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File Number: 22-033 The ACFR shows the total of all financial accounting for the fiscal year. The financial reporting provided in the ACFR is in greater detail than the basic financial statements and is made up of three primary sections: ·Introductory Section: provides general information about the City including the letter of transmittal, list of principal officers, and an organizational chart. ·Financial Section: provides the overall financial information for the City including the report of the independent auditor, management’s discussion and analysis (MD&A), the basic financial statements, notes to the basic financial statements, required supplementary information, and other supplementary statements and schedules. ·Statistical Section: provides a broad range of operational, economic, and historical data providing context for assessing the City’s fiscal condition. This section provides information about general financial trends, revenue and debt capacities, economic and demographic trends, and operating information. The format of the ACFR is designed to serve the needs of three primary users: the City Council and other governmental oversight bodies, the public, and agencies assessing the City's creditworthiness. DISCUSSION Financial Highlights Maze & Associates completed audits of the City’s financial statements, grants, Measures B and BB special sales tax revenues, and Measure F vehicle license registration fees. Maze also reviewed the City’s Appropriations Limit Calculation for fiscal year 2021-2022. Maze found the general purpose financial statements present fairly, in all material ways, the City’s financial position as of June 30, 2021 (Independent Auditor’s Report, Opinions). The audited financial statements include the statement of net position, statement of activities and changes in net position, balance sheets, statements of revenues, expenditures, and changes in fund balance, and statements of cash flows. Please refer to the Management’s Discussion and Analysis section in the ACFR for detailed discussion regarding the City’s financial performance and position. Key financial highlights for the years ended June 30, 2021 are as follows: ·The City’s Assets and Deferred Outflows of Resources exceeded its Liabilities and Deferred Inflows of Resources by $193.1 million (Net Position), a $12.9 million increase from the prior year. Of the total net position, $186.2 million was invested in capital assets, $51.6 million was restricted for other purposes, and ($44.6) million was unrestricted. Unrestricted Net Position increased by $28.6 million while Net Investment in Capital Assets and Restricted Net Position saw a decrease of $2.8 million and $12.9 million respectively. ·Assets and Deferred Outflows of Resources increased by $43.7 million from the prior fiscal year, offset by an increase in Liabilities and Deferred Inflows of Resources of $30.7 million. The increase in Liabilities was partly due to the increase in net pension liability of $15.3 million and a new direct borrowing lease agreement of $7.6 million offset by the decrease in debt repayment of $6.0 million and decrease in net OPEB liability of $1.9 Page 2 City of San Leandro Printed on 1/14/2022 238