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<br /> <br /> <br /> <br />April 24, 2018 <br /> <br />Honorable Mayor and Members of the City Council <br />City of San Leandro <br />San Leandro, CA 94577 <br /> <br />Dear Mayor and Members of the City Council: <br /> <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, 2017. Responsibility for both the accuracy <br />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 /> <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, 2017. <br /> <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 <br />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 /> <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, 2017 are free of material misstatement. The independent audit involved <br />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 unmodified opinion that the City’s <br />basic financial statements for the fiscal year ended June 30, 2017 are fairly presented in conformity <br />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 />465