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<br />The budget is prepared by fund, function (e.g., public safety) and department (e.g., police). The legal <br />level of budgetary control is at the fund level. The City Manager is authorized to transfer budgeted <br />amounts between departments and line items within any fund; however, any revisions which alter the <br />total expenditures of any fund must be approved by the City Council. Transfers between funds must <br />be approved by the City Council. At the end of the fiscal year, encumbered appropriations are <br />carried forward and become part of the following year’s budget while appropriations that have not <br />been encumbered lapse, unless otherwise authorized by the City Council and the City Manager. <br /> <br />Accounting System <br />The City’s accounting records for general government operations are maintained on a modified <br />accrual basis, with the revenues being recorded when measurable and available. Expenditures are <br />recorded when the services or goods are received and the liabilities incurred. Accounting records <br />for the City’s proprietary activities are maintained on the full accrual basis, with revenues <br />recorded when earned and expenses when incurred. In maintaining the City’s accounting system, <br />consideration is given to the adequacy of internal controls. Internal controls are designed to <br />provide reasonable assurance regarding the safeguarding of assets and to ensure the reliability of <br />financial records and maintaining accountability for assets. The concept of reasonable assurance <br />recognizes that the cost of control should not exceed the benefits likely to be derived. The <br />evaluation of costs and benefits requires continuing estimates and judgments by City <br />management. We believe that the City’s system of internal accounting controls continues to <br />adequately safeguard assets and provide reasonable assurance that financial transactions are <br />properly recorded. <br /> <br />Risk Management <br />The City maintains a program of commercial insurance combined with self-insurance for <br />substantially all of its governmental operations, except for major construction projects and <br />contractor-supplied services. In such circumstances, insurance to protect the City is provided by each <br />contractor. The City is a member of the Local Agency Workers’ Compensation Excess Joint Powers <br />Authority (LAWCX). The City is also a member of California Joint Powers Risk Management <br />Authority (CJPRMA), which provides annual general liability coverage in an aggregate up to $40 <br />million. Additional information on the City’s risk management activity can be found in the notes to <br />the financial statements. <br /> <br /> <br />OTHER INFORMATION <br /> <br />Certificate of Achievement <br />The Government Finance Officers Association of the United States and Canada (GFOA) awarded a <br />Certificate of Achievement for Excellence in Financial Reporting to the City of San Leandro for its <br />CAFR for the fiscal year ended June 30, 2014. This was the 19th consecutive year that the City of <br />San Leandro has received this prestigious award. In order to be awarded a Certificate of <br />Achievement, a government must publish an easily readable and efficiently organized CAFR. This <br />report must satisfy both generally accepted accounting principles and applicable legal requirements. <br /> <br />A Certificate of Achievement is valid for a period of one year. We believe that our current CAFR <br />continues to meet the Certificate of Achievement Program’s requirements and we are submitting it to <br />the GFOA to determine its eligibility for another certificate. <br />x