16 - Laserfiche WebLink

• Alameda County Transportation Commission Measure F Program Financial Statements and Independent Auditors' Reports is required by the Alameda County Transportation Commission (ACTC). Under Measure F, approved by Alameda County voters 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 the City is in compliance with the requirements governing expenditures of Measure F funds for the year ending June 30, 2022. • The Single Audit Report is the report required by the U.S. government. This report contains a schedule of Federal Financial Assistance that summarizes federal grant activity in the City for the fiscal year. A non-federal entity with federal expenditures in excess of$750,000 is required to have a single audit conducted in accordance with Uniform Guidance, which includes an audit of both the financial statements and the federal awards. The intent is to ensure the City is properly using its federal funds and is in compliance with applicable funding requirements. • Independent Accountants' Report on Agreed-Upon Procedures Applied to Appropriations Limit Worksheets is required by the State of California in Section 1.5 of Article XIII-B of the California Constitution. Article XIII-B of the California Constitution limits the amount that governmental agencies can annually appropriate from proceeds of taxes. Staff annually updates its calculation, factoring in population and inflation changes, to determine the new appropriation limit. City Council approved the appropriation limit for FY 2022/23 in June 2022. • The Auditors' Communications Letter 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 references the City's 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. • The Independent Auditors' Report on Internal Control reports includes a review of the City's internal controls, based on the audits of the ACFR, federal grants, and Measures B, BB and F financial reports. If the auditor identifies deficiencies, they make recommendations to improve internal controls. • The Popular Annual Financial Report is a new report for the City. The GFOA established standards for this Popular Annual Financial Report in 1991 to encourage and assist state and local governments to extract information from their annual comprehensive financial report to produce financial reports specifically designed to be accessible and easily understandable to the general public and other interested parties without a background in public finance. Page 3 of 7