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City of San Leandro City Council Meeting Date: May 15, 2023 Agenda Number: 11.c. Agenda Section: CONSENT CALENDAR File Number: 23-220 File Type: Staff Report Adopt a Resolution to Accept the Audited Financial Statements for the City of San Leandro for the Fiscal Year Ending June 30, 2022 SUMMARY AND RECOMMENDATIONS Staff recommends that the City Council adopt a resolution accepting the audited financial statements, including the Annual Comprehensive Financial Report for the City of San Leandro, for the fiscal year ended June 30, 2022. BACKGROUND The City's independent auditor, Maze & Associates, completed the audit of the City's financial statements and provided the auditor's reports for the fiscal year ended June 30, 2022. The Finance Department prepares the City's financial statements in the form required for the Annual Comprehensive Financial Report (ACFR). The Government Accounting Standards Board recommends the elements for the ACFR format. The ACFR and the related financial statements fully disclose the financial condition of the City and other reporting units of the City. The ACFR and other compliance reports prepared for the year ended June 30, 2022, include: 1.Annual Comprehensive Financial Report 2.Measure B Compliance Audit 3.Measure BB Compliance Audit 4.Measure F/Vehicle License Fee Compliance Audit 5.Report regarding the Appropriations Limit Calculation for 2022-2023 6.Memorandum on Internal Control 7.Memorandum on Required Communications The ACFR details 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 Page 1 City of San Leandro Printed on 5/10/2023