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appropriation limit The appropriation limit for the FY 2015/16 was approved by Council by resolution in June 2015 ® 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, 2015 m Alameda County Transportation Commission — Measure F Funds Financial Statements and Independent Auditors' Reports is required by the Alameda County Transportation Commission (ACTC) Under Measure F, approved by the voters of Alameda County in November 2010, the City receives a portion of the proceeds of the $10 per year vehicle registration fee for funding 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 F funds for the year ending June 30, 2015 ® Housing Authority of the City of Pleasanton Basic Financial Statements and Independent Auditor's Report is the financial report prepared by the City and audited by independent auditors to provide reasonable assurance the financial statements are fairly presented in accordance with generally accepted accounting principles in the United States The Housing Authority is a blended component unit of the City, accordingly, its financial statements are also included in the basic financial statements of the City The Housing Authority was established in 1943 for the purpose of providing and maintaining affordable housing within the City 6 The City of Pleasanton Auditors' Communication with Those Charged with Governance report includes the auditors' letter, addressed to the City, communicating their responsibilities in performing the audit and if any, significant findings and issues detected during the course of the audit The report also includes the City of Pleasanton Management Representation Letter, addressed to the auditors, communicating management's opinion of the City's financial condition, internal controls, and adherence with laws and regulations DISCUSSION VTD did not report concerns with the City's internal controls or with any aspect of the City's financial reporting The Audit Committee met on January 13, 2016 to review the FY 2014/15 CAFR and related audit reports Council members Karla Brown and Arne Olson serve on the Audit Committee along with the City Manager and the Director of Finance The Audit Committee discussed the audit reports The Audit Committee recommended that the reports be formally accepted by City Council Page 3 of 4