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File Number: 20-119 <br />three primary sections: <br />·Introductory Section: provides general information about the City including the letter of <br />transmittal, list of principal officers, and an organizational chart. <br />·Financial Section: provides the overall financial information for the City including the <br />report of the independent auditor, management’s discussion and analysis (MD&A), the <br />basic financial statements, notes to the basic financial statements, required supplementary <br />information, and other supplementary statements and schedules. <br />·Statistical Section: provides a broad range of operational, economic, and historical data <br />providing context for assessing the City’s fiscal condition. This section provides <br />information about general financial trends, revenue and debt capacities, economic and <br />demographic trends, and operating information. <br />The format of the CAFR is designed to serve the needs of three primary users: the City Council <br />and other governmental oversight bodies, the public, and agencies assessing the City's <br />creditworthiness. <br />DISCUSSION <br />Maze & Associates completed audits of the City’s financial statements and Measures B and BB <br />special sales tax revenues. Maze found the general purpose financial statements present fairly, in <br />all material ways, the City’s financial position as of June 30, 2019 (Independent Auditor’s Report, <br />Opinions). The audited financial statements include the statement of net position, statement of <br />activities and changes in net position, balance sheets, statements of revenues, expenditures, and <br />changes in fund balance, and statements of cash flows. <br />Key financial highlights for the years ended June 30, 2019 are as follows: <br />·The City’s assets exceeded its liabilities by $186.0 million (net position) at fiscal year end <br />June 30, 2019, a decrease of $4.2 million from the prior year. Of the net position, $191.2 <br />million was invested in capital assets, $63.1 million is restricted for other purposes, and <br />($68.3) million is unrestricted. Restricted fund balance saw an increase of $22.0 million <br />while Net Investment in Capital Assets and Unrestricted fund balance decrease of $24.9 <br />million and $1.3 million, respectively. Assets and Deferred Outflow of Resources <br />increased by $13.2 million from the prior fiscal year, offset by an increase in Liabilities and <br />Deferred Inflow of Resources of $17.4 million. <br />·The City’s governmental fund balance increased by $28.8 million for a fiscal year ending <br />balance of $123.1 million. Of the balance, $10.9 million is not spendable because the <br />funds are not available due to advances and loans to other funds. A total of $63.1 million <br />is Restricted due to the constraints placed on the use of resources, such as capital <br />projects and debt service payments. $6.3 million is Assigned, which are General Fund <br />encumbrances from the prior year and a reserve to fund anticipated Other <br />Post-Employment Benefit costs resulting from the City’s contract for fire protection <br />services with Alameda County. Lastly, $42.7 million is Unassigned and available for <br />spending in the future. <br /> <br />·The City's business-type/enterprise activities include the Water Pollution Control Plant, <br />Shoreline, Storm Water Utility, and Environmental Services. The total net position for all <br />Page 2 City of San Leandro Printed on 4/1/2020 <br />127