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January 12, 2017 <br />Honorable Mayor and Members of the City Council <br />City of San Leandro <br />San Leandro, CA 94577 <br />Dear Mayor and Members of the City Council: <br />It is a pleasure to submit for your consideration the City of San Leandro’s Comprehensive Annual <br />Financial Report (CAFR) for the fiscal year ended June 30, 2016. Responsibility for both the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with <br />the City’s management. To the best of my knowledge and belief, the enclosed information is accurate <br />in all material respects and is reported in a manner designed to present fairly the financial position and <br />results of operations of the various activities of the City. All disclosures necessary to enable the reader <br />to gain an understanding of the City’s financial activities have been included. <br />The City’s Charter requires an annual audit by an independent audit firm selected by the City Council <br />of the books of account and financial records and reports of the City and that the City publish a <br />complete set of audited financial statements after the close of each fiscal year. This report is published <br />to fulfill this requirement for the fiscal year ended June 30, 2016. <br />This report presents management’s representations concerning the finances of the City. Consequently, <br />management assumes full responsibility for the completeness and reliability of all of the information <br />presented in this report. To provide a reasonable basis for making these representations, management <br />has established a comprehensive internal control framework that is designed both to protect the City’s assets from loss, theft, or misuse and to compile sufficient reliable information for the preparation of <br />the City’s financial statements in conformity with generally accepted accounting principles (GAAP). <br />Because the costs of internal controls should not outweigh the benefits, the City’s comprehensive <br />framework of internal controls has been designed to provide reasonable rather than absolute assurance <br />that the financial statements will be free from material misstatement. <br />Maze & Associates, a public accounting firm fully licensed and qualified to perform audits of local <br />governments within California, has audited the City’s basic financial statements. The goal of the <br />independent audit is to provide reasonable assurance that the basic financial statements for the fiscal <br />year ended June 30, 2016 are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, <br />assessing the accounting principles used and significant estimates made by management, and <br />evaluating the overall financial statement presentation. The independent auditors concluded, based <br />upon the audit, that there was a reasonable basis for rendering an unqualified opinion that the City’s <br />basic financial statements for the fiscal year ended June 30, 2016 are fairly presented in conformity with accounting principles generally accepted in the United States. The independent auditor’s report <br />is presented as the first component of the financial section of this report. <br />v