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THE CITY OF <br /> 8 <br /> ffii " _ CITY COUNCIL AGENDA REPORT <br /> pLEASANTON. <br /> February 2, 2016 <br /> Finance <br /> TITLE: ACCEPT THE COMPREHENSIVE ANNUAL FINANCIAL REPORT <br /> (CAFR) AND OTHER RELATED AUDITS FOR THE YEAR ENDING <br /> JUNE 30, 2015 <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 Comprehensive Annual <br /> Financial Report (CAFR) has been made available for public inspection at the <br /> Pleasanton Public Library In addition, the CAFR is available for public viewing on <br /> the City's website <br /> For the FY 2014/15 as in all other years, the City has received an unmodified or <br /> clean opinion on the financial statements from its auditors, Vavrinek, Trine, Day & <br /> Company In addition, all requirements have been met to achieve the highest <br /> standard in government accounting and financial reporting, the Certificate of <br /> Achievement for Excellence in Financial Reporting issued by the Government <br /> Finance Officers Association of the United States and Canada The City of <br /> Pleasanton has received this certificate annually for the last seventeen consecutive <br /> years <br /> AUDIT COMMITTEE RECOMMENDATION <br /> The Audit Committee reviewed these reports on January 13, 2016 and <br /> recommends that the reports be formally accepted by City Council <br /> RECOMMENDATION <br /> Staff recommends that the City Council accept the FY 2014/15 audited reports <br /> FINANCIAL STATEMENT <br /> There is no direct fiscal impact in accepting the FY 2014/15 audited reports <br />