City Council

C. Presentation of the Annual Comprehensive Financial Report (ACFR) to the Audit Subcommittee\nRecommended Action\nStaff recommends that the City Council:\n1. Receive and file the City’s Annual Comprehensive Financial Report (ACFR), the Auditors’\nLetter to Council, and the Independent Auditors’ Report on Internal Control Over\nFinancial Reporting and on Compliance and Other Matters Based on an Audit of\nFinancial Statements Performed in Accordance with Government Auditing Standards for\nthe City’s financial statements for the fiscal year ended June 30, 2022; and\n2. Consider a request by the Audit Subcommittee to instruct staff to increase the amount of\ndisclosure related to Notes Receivables to include the gross amount of loans and amount\nof allowances, as well as a summary of the accounting principles driving the loan\nallowances, for inclusion in the ACFR for the fiscal year ending June 30, 2023.\n3. Adopt a finding of no significant effect pursuant to Section 15061(b)(3) (Common Sense\nExemption) of the California Environmental Quality Act (CEQA) Guidelines\nStaff Report Printout\na. Annual Comprehensive Financial Report\nb. Independent Auditors’ Report on Internal Control Over Financial Reporting and on Compliance\nwith Other Matters Based on an Audit of Financial Statements...\nc. Auditors’ Communication Letter to Council