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City of San Leandro <br />Meeting Date: February 21, 2017 <br />Staff Report <br />Agenda Section:File Number:17-060 CONSENT CALENDAR <br />Agenda Number:8.E. <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:David Baum <br />Finance Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:Staff Report for Resolution Approving the Comprehensive Annual Financial <br />Report (CAFR) for the Year Ending June 30, 2016 <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends that the City Council accept the CAFR for fiscal year ended June 30, 2016. <br />BACKGROUND <br />The City's independent auditor, Maze & Associates, has completed the audit of the City's <br />financial statements and provided their auditor's reports for the year ended June 30, 2016. <br />The Finance Department prepared the City's financial statements as part of its CAFR for the <br />year ended June 30, 2016. The Government Accounting Standards Board (GASB) <br />recommends the elements for the CAFR format. The CAFR and the related financial <br />statements fully disclose the financial condition of the City, Successor Agency to the <br />Redevelopment Agency, and other reporting units of the City. <br />Other financial statements for the year ended June 30, 2016 are reviewed and prepared by <br />the City's external auditor: <br /> <br />1.Alameda County Transportation Commission (ACTC) - Measure B Funds <br />2.Alameda County Transportation Commission (ACTC) - Measure BB Funds <br />3.Alameda County Vehicle Registration Fee - Measure F Funds <br />4.Transportation Development Act Article III Fund <br />5.Appropriations Limit Schedule and Independent Accountant's Report <br />6.Single Audit of Federal Grant Expenditures in accordance with U.S. Office of <br />Management and Budget Circular A-133 <br />The primary report, the CAFR, contains three sections. The first is the introductory section, <br />which provides general information on the City's structure, personnel, economic condition, and <br />finances. The financial section includes the independent auditor's report, the general-purpose <br />Page 1 City of San Leandro Printed on 2/16/2017