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16 <br /> THE CITY OF <br /> CITY COUNCIL AGENDA REPORT <br /> pL£ASANTON. <br /> February 15, 2022 <br /> Finance <br /> TITLE: ACCEPT THE ANNUAL COMPREHENSIVE FINANCIAL REPORT <br /> (ACFR) AND OTHER RELATED AUDITS FOR THE FISCAL YEAR <br /> ENDING JUNE 30, 2021 <br /> SUMMARY <br /> Each year the City of Pleasanton is required to prepare audited financial <br /> statements in addition to a number of related reports. This action requests that <br /> City Council formally accept these reports. Copies of these reports have been <br /> distributed to all Council members. A copy of the Annual Comprehensive <br /> Financial Report (ACFR) has been made available for public inspection at the <br /> Pleasanton Public Library. In addition, the ACFR is available for public viewing on <br /> the City's website. <br /> For FY 2021/22 as in all other years, the City has received an unmodified or clean <br /> opinion on the financial statements from its auditors Lance, Soil & Lunghard, LLP <br /> (LSL). In addition, all requirements have been met to achieve the highest standard <br /> in government accounting and financial reporting: the Certificate of Achievement for <br /> Excellence in Financial Reporting issued by the Government Finance Officers <br /> Association (GFOA) of the United States and Canada. The City of Pleasanton has <br /> received this certificate annually for the last 24 consecutive years. <br /> AUDIT COMMITTEE RECOMMENDATION <br /> The Audit Committee (Councilmembers Balch and Narum) reviewed these reports <br /> on January 26, 2022 and recommends that the reports be formally accepted by City <br /> Council. <br /> RECOMMENDATION <br /> Staff recommends that the City Council accept the FY 2020/21 audited reports. <br /> FINANCIAL STATEMENT <br /> There is no direct fiscal impact in accepting the FY 2020/21 audited reports. <br />