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<br />conformity with accounting principles generally accepted in the United States. The independent <br />auditor’s report is presented as the first component of the financial section of this report. <br /> <br />In addition to the annual financial audit, the City provides for a federally mandated Single Audit <br />designed to meet the special needs of Federal grantor agencies. The standards governing Single <br />Audit engagements require the independent auditor to report on the audited government’s internal <br />controls and compliance with legal requirements, with special emphasis on the administration of <br />Federal awards. These reports are available in the City’s separately issued Single Audit Report. <br /> <br />GAAP requires that management provide a narrative introduction, overview, and analysis to <br />accompany the basic financial statement in the form of Management’s Discussion and Analysis <br />(MD&A). The MD&A compliments this letter of transmittal and should be read in conjunction with <br />it. The City’s MD&A can be found immediately following the report of the independent auditors in <br />the financial section of the CAFR. <br /> <br /> <br />CITY PROFILE <br /> <br />The City of San Leandro was incorporated in 1872 and is one of the oldest communities in the San <br />Francisco Bay Area. The City occupies fifteen square miles between the cities of Oakland and <br />Hayward and is bordered on the west by the San Francisco Bay. San Leandro offers its <br />approximately 86,000 residents the quiet charm and character of a community that has been <br />established for more than 140 years. Once an agricultural community, the City has been successful <br />in attracting significant industrial, manufacturing and retail development to the area. <br /> <br />City Structure <br />The City functions under a Mayor-Council-Manager form of government and is governed by a <br />seven-member council elected by City residents. Municipal services provided include public safety, <br />streets and roads, recreation and cultural services, library, health services, public infrastructure <br />improvements, planning and zoning, and general administrative services. The scope of the City <br />Council’s power and influence includes, but is not limited to the following: <br /> <br />• The authority to establish and modify operating and capital budgets <br />• The power to appoint voting members to other governing authorities <br />• The power to appoint the City Manager and City Attorney <br />• The ability to plan and direct operations <br />• The authority to veto, modify, and overrule decisions <br /> <br />Another significant example of control is the nature of financial interdependency between the various <br />City funds. Manifestations of financial interdependency include taking responsibility for financing <br />deficits, being entitled to operating surpluses, and giving implied guarantees (moral responsibility) <br />for debt obligations. <br /> <br /> <br /> <br /> <br />vi