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<br />21 <br />City Financial Information <br />Accounting Policies and Financial Reporting. The City Manager employs, at the <br />beginning of each fiscal year, an independent certified public accountant who, at such time or <br />times as specified by the City Manager, at least annually, and at such other times as he or she <br />shall determine, examines the combined financial statements of the City in accordance with <br />generally accepted auditing standards, including such tests of the accounting records and such <br />other auditing procedures as such accountant considers necessary. As soon as practicable after <br />the end of the fiscal year, a final audit and report is submitted by such accountant to the City <br />Manager and a copy of the financial statements as of the close of the fiscal year is published. <br /> <br />The accounting policies of the City conform to generally accepted accounting principles. <br />The Governmental Accounting Standards Board (“GASB”) published its Statement No. 34 <br />“Basic Financial Statements – and Management’s Discussion and Analysis – for State and <br />Local Governments” on June 30, 1999. Statement No. 34 provides guidelines to auditors, state <br />and local governments and special purpose governments such as school districts and public <br />utilities, on new requirements for financial reporting for all governmental agencies in the United <br />States. Generally, the basic financial statements and required supplementary information should <br />include (i) Management’s Discussion and Analysis; (ii) financial statements prepared using the <br />economic measurement focus and the accrual basis of accounting; (iii) fund financial statements <br />prepared using the current financial resources measurement focus and the modified accrual <br />method of accounting; and (iv) required supplementary information. <br />Accounts of the City are organized on the basis of funds each of which is considered a <br />separate accounting entity. There are three groups of funds – governmental funds (which <br />include the General Fund), proprietary funds (which include enterprise funds and internal <br />service funds) and fiduciary funds (which are used to account for resources held for the benefit <br />of parties outside the City). The City maintains 25 individual governmental funds. Information is <br />presented in the governmental statement of revenues, expenditures, and changes in fund <br />balances for the General Fund together with 24 other funds, in a single aggregated <br />presentation. Supplementary information is also presented describing the City’s (1) Non–Major <br />Governmental Funds, (2) Non–Major Enterprise Funds, (3) Internal Service Funds, and (4) <br />Fiduciary Funds. <br /> <br />There is significant financial interdependency between the various City funds. The City <br />has no discretely reportable component funds and/or units; the City’s blended component funds <br />and/or units include or have included: operations of the Redevelopment Agency, the San <br />Leandro Parking Authority, the Authority, and the San Leandro Economic Development Agency. <br />During Fiscal Year 2014–15, the City opened one new component fund: the Measure BB Fund <br />(which accounts for the City’s share of revenues earned and expenditures incurred under the <br />City paratransit, streets and roads, and bike and pedestrian programs). The City also has two <br />proprietary utility and enterprise funds. The Water Pollution Control Plant Enterprise fund was <br />established to account for the City’s sewers, which protect public health and preserve water <br />quality through collection, treatment and disposal of the community’s wastewater and <br />wastewater solids. The Shoreline Enterprise Fund was established in Fiscal Year 2002–03 to <br />combine the Marina Enterprise and the Golf Course Enterprise Funds. <br /> <br />All governmental funds and fiduciary funds use the modified accrual basis of accounting. <br />The proprietary funds use the accrual basis of accounting. The General Fund is the general <br />operating fund of the City and is used to account for all financial resources except those <br />required to be accounted for in another fund.