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• The City of Pleasanton Independent Accountants' Report on Agreed-Upon <br />Procedures Applied to Appropriations Limit Schedule is required by the <br />State of California in Section 1.5 of Article XIIIB of the California Constitution. <br />Article XIIIB of the California Constitution limits the amount that governmental <br />agencies can annually appropriate from proceeds of taxes. An annual <br />calculation, factoring in population and inflation changes, is performed each year <br />to determine the new appropriation limit. <br />DISCUSSION <br />Auditing standards require the City's independent auditors to discuss their findings with <br />the City's Audit Committee, which was done on January 24, 2008. Councilmember <br />Jerry Thorne and Councilmember Cheryl Cook-Kallio serve on the Audit Committee. <br />Also on the committee are the City Manager and the Director of Finance. Findings <br />concerning certain internal control procedures or operations as of December 2007 were <br />presented in a report titled "Report to the City Council and Management". The <br />committee discussed the auditors' comments with them and there were no concerns of <br />significance. Staff values the auditor recommendations and will continue to improve our <br />controls, policies and procedures. <br />Submitted by: Approve y: <br />' ^ ~, <br />avid P. Culver Nelson Fialho <br />Director of Finance City Manager <br />Page 3 of 3 <br />