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THE CITY OF • <br /> ®_ Ir III I CITY COUNCIL AGENDA REPORT <br /> pLEASANTON. <br /> February 7, 2017 <br /> Finance <br /> TITLE: ACCEPT THE COMPREHENSIVE ANNUAL FINANCIAL REPORT <br /> (CAFR) AND OTHER RELATED AU DITS FOR THE YEAR ENDING <br /> JUNE 30, 2016 <br /> SUMMARY <br /> Each year the City of Pleasanton is required to prepare audited financial statements <br /> in addition to a number of related reports This action requests that City Council <br /> formally accept these reports Copies of these reports have been distributed to <br /> all Council members A copy of the Comprehensive Annual Financial Report <br /> (CAFR) has been made available for public inspection at the Pleasanton Public <br /> Library In addition, the CAFR is available for public viewing on the City's website <br /> For the FY 2015/16 as in all other years, the City has received an unmodified or <br /> clean opinion on the financial statements from its auditors, Maze and Associates In <br /> addition, all requirements have been met to achieve the highest standard in <br /> government accounting and financial reporting, the Certificate of Achievement for <br /> Excellence in Financial Reporting issued by the Government Finance Officers <br /> Association of the United States and Canada The City of Pleasanton has received <br /> this certificate annually for the last eighteen consecutive years <br /> AUDIT COMMITTEE RECOMMENDATION <br /> The Audit Committee reviewed these reports on February 2, 2017 and recommends <br /> that the reports be formally accepted by City Council <br /> RECOMMENDATION <br /> Staff recommends that the City Council accept the FY 2015/16 audited reports <br /> FINANCIAL STATEMENT <br /> There is no direct fiscal impact in accepting the FY 2015/16 audited reports <br />