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GAAP requires that management provide a narrative introduction, overview, and analysis to <br />accompany the basic financial statement in the form of the Management’s Discussion and Analysis <br />(MD&A). The MD&A complements this transmittal letter and should be read in conjunction with it. <br /> <br />CITY PROFILE <br /> <br />The City was incorporated in 1872 and is one of the older communities in the San Francisco Bay <br />Area. The city occupies fifteen square miles between the cities of Oakland and Hayward and is <br />bordered on the west by the San Francisco Bay. San Leandro offers its 89,800 residents the charm <br />and character of a community that has been established for 146 years. Once an agricultural <br />community, the City has been successful in attracting significant residential, industrial, <br />manufacturing, and retail development. <br /> <br />City Structure <br /> <br />The City functions under a council-manager form of government and is governed by a seven- <br />member council elected by City residents. Municipal services include public safety, streets and <br />roads, recreation and cultural services, library, health services, public infrastructure improvements, <br />planning and zoning, and general administrative services. The scope of the City Council’s power <br />and influence includes the following: <br /> <br /> Authority to set policy and enact legislation that facilitates those policies; <br /> Authority to establish and modify operating and capital budgets; <br /> Power to appoint voting members to other governing authorities; <br /> Power to appoint the City Manager and City Attorney; and <br /> Authority to veto, modify, and overrule decisions previously enacted. <br /> <br />Component Units <br /> <br />The City’s blended component units include operations of the San Leandro Parking Authority and <br />the San Leandro Public Financing Authority. As of June 30, 2019, there were no discrete reportable <br />component units. <br /> <br />The CAFR for the year ending June 30, 2019 provides a financial account of these units, <br />organizational elements, and the City functions for which the City Council provides policy direction <br />and general oversight. It presents financial information on the activities of the City itself and the <br />component units of the City upon which the City Council is authorized to impose its will. The <br />operating nature of the City’s component units determines how they are reported in the financial <br />statements. The activities of component units that provide financial benefit or create financial burden <br />for the City are blended within the City’s general financial statements. <br /> <br />ECONOMIC CONDITION OF THE CITY <br /> <br />The City has a diverse and strong economy—with its business community comprised of varied <br />businesses ranging from neighborhood coffee houses and fine restaurants, large food processing <br />centers, regional shopping opportunities, to cutting edge technology. While the economic base has <br />dramatically changed from its agricultural early years, San Leandro continues to expand on its sound <br />business base with the ongoing development of such projects as a multi-family housing development, <br />high-rise offices, and the continuing revitalization of downtown. <br /> <br />vi139