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CITY OF SAN LEANDRO APPROVED AND <br /> FORWARDED <br /> STAFF REPORT TO CITY COUNCIL <br /> Stephen Hollister, <br /> DATE: February 22, 2011 <br /> City Manager <br /> TO: Stephen Hollister, City Manager <br /> FROM: Tracy Vesely, Finance Directo <br /> BY: Carla Rodriguez, Deputy Finance Director <br /> SUBJECT PROJECT /PROJECT DESCRIPTION: <br /> RESOLUTION APPROVING AND CONFIRMING THE COMPREHENSIVE ANNUAL <br /> FINANCIAL REPORT (CAFR) FOR THE YEAR ENDING JUNE 30, 2010 <br /> SUMMARY AND RECOMMENDATION <br /> Staff recommends that the City Council accept the Comprehensive Annual Financial Report <br /> (CAFR) for fiscal year ended June 30, 2010. <br /> BACKGROUND <br /> We are pleased to submit for City Council's review the Comprehensive Annual Financial Report <br /> (CAFR) for the City of San Leandro for the fiscal year ended June 30, 2010 (FY 2009 -10). The <br /> CAFR reports on all financial transactions of the City for the year and discloses significant <br /> information regarding the City's operations, assets and liabilities. In addition, and in <br /> conformance with the City's Charter, the financial statements of the City are audited by a <br /> qualified independent auditor. <br /> Such an audit was performed for the fiscal year 2009 -10 and the City has once again received a <br /> "clean" opinion (one that is without any reservations or qualifications on the opinion) which is <br /> the highest level of assurance that can be rendered by the auditors. This opinion assures that the <br /> City's financial statements are in conformity with accounting principles generally accepted in the <br /> United States and has been rendered on all of the City's funds, including the Redevelopment <br /> Agency of the City of San Leandro. <br /> Staff asks City Council to note in the CAFR that the City was awarded the Certificate of <br /> Achievement for Excellence in Financial Reporting for the fiscal year ended June 30, 2009 by <br /> the Government Finance Officers Association of the United States and Canada (GFOA). Staff <br /> has submitted this year's CAFR for the award and believes that the 2009 -10 CAFR continues to <br /> meet the stringent standards of the GFOA Awards program. <br /> Many of the City's dedicated staff contributed to the development of the City's CAFR. <br /> However, in particular, 1 would like to express appreciation to Carla Rodriguez, Deputy Finance <br /> Director, Christine Galvin, Senior Accountant, Clarence Youngs, Accountant I and Sally Perez, <br />