City Council

6G. ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR FISCAL YEAR 2022-23\nAND RELATED AUDIT REPORTS\nEach year the City issues an Annual Comprehensive Financial Report (ACFR), which\nsummarizes the financial activity of a local government for a given fiscal year in\naccordance with financial statement presentation requirements prescribed by\ngovernment accounting standards (Attachment A). The ACFR is accompanied by an\nopinion from the City’s audit firm. The audit firm’s opinion on the City’s 2022-23 ACFR is\na clean opinion, with no exceptions, modifications, or qualifications. (The audit firm also\nissued a separate report for the Housing Authority’s 2022-23 audited financial\nstatements. The single audit report on Attachment C was required for the Fiscal Year\n2022-23 audit because the City spent more than $750,000 in federal grant funds. No\nfindings or questioned costs are identified in this report. In addition, the City’s auditors\nissue other reports in relation to the City’s audit. These reports are provided in\nAttachments D and E. (Attachment D, page 6 includes one recommendation from the\nCity’s auditors.).\nRECOMMENDED ACTION:\n1. City Council find that this item is not subject to California Environmental Quality Act\n(“CEQA”) pursuant to Sections 15378(b)(5) (Organizational or administrative\nactivities of governments that will not result in direct or indirect physical changes in\nthe environment); and\n2. Receive and file the Annual Comprehensive Financial Report (ACFR), and related\naudit reports.\nFebruary 27, 2024