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BACKGROUND The City's independent auditors, Vavrinek, Trine, Day & Company, Certified Public Accountants, have completed the audit of the City's financial transactions for the 2013/14FY. The following reports, prepared by the City of Pleasanton and audited by the City's independent auditors are as follows: • Comprehensive Annual Financial Report (CAFR) is the overall financial report for the entire city organization and provides information about the financial results of operations and numerous required disclosures. This is the financial report prepared by the City and audited by the independent auditors to provide reasonable assurance that the financial statements are fairly presented in accordance with generally accepted accounting principles (GAAP) in the United States. This report contains the Independent Auditors' Report, which is prepared by the auditors based on their examination of the City's financial transactions for the fiscal year ending June 30, 2014. • Community Transit Services, Senior Citizen, and Disabled Transportation Program Fund Financial Statements and Independent Auditors' Reports is the audit report required by the Transportation Development Act (TDA) for Article 4.5 funds received in fiscal years 2013 and 2014. TDA funds are used to support the transportation program for senior and disabled citizens of Pleasanton. This program is provided through the Dial-A-Ride program in the Community Services Department. Copies of the report are submitted to the Metropolitan Transportation Commission for their review. • Alameda County Transportation Commission - Measure B Funds Financial Statements and Independent Auditors' Reports is required by the Alameda County Transportation Commission (ACTC). Measure B funds, the one-half cent sales tax approved by Alameda County voters in1986 and in 2000, provides funding for City transportation related projects. Copies of the report are submitted to ACTC to show that the City is in compliance with the requirements governing expenditures of Measure B funds for the year ending June 30, 2014. • Independent Accountants' Report on Agreed-Upon Procedures Applied to Appropriations Limit Schedule is required by the State of California in Section 1.5 of Article XIIIB of the California Constitution. Article XIIIB of the California Constitution limits the amount that governmental agencies can annually appropriate from proceeds of taxes. An annual calculation, factoring in population and inflation changes, is performed each year to determine the new appropriation limit. The appropriation limit for the 2014/15FY was approved by Council by resolution in June 2014. • Single Audit Report is the audit report required by the Single Audit Act of 1984. This report contains a schedule of Federal Financial Assistance that summarizes Federal grant activity in the City of Pleasanton for the fiscal year ending June 30, 2014. Page 2 of 3