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CITY OF PLEASANTON, CALIFORNIA <br /> <br />3 | eidebailly.com <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />February 4, 2025 <br /> <br />Mr. Gerry Beaudin <br />City Manager <br />City of Pleasanton <br />123 Main Street, PO Box 520 <br />Pleasanton, CA 94566 <br /> <br />Dear Mr. Beaudin: <br /> <br />Eide Bailly appreciates the opportunity to provide you with this report summarizing our observations regarding <br />the City of Pleasanton’s financial forecast, current financial condition, and related financial management practices. <br />This report is broken into four parts – 1) our observations regarding the City’s financial forecast, 2) our <br />observations regarding related financial management practices of the City that were observed during the course <br />of our analysis of the financial forecast, 3) a sensitivity analysis of certain key assumptions contained in the <br />financial forecast, and 4) our recommendations for the City’s consideration. These recommendations are based <br />on our team’s significant experience leading and consulting for numerous municipal finance departments in <br />California and are grounded in best practices of the Government Finance Officers Association (GFOA) and strong <br />financial management practices that build upon the GFOA’s recommendations. <br /> <br />It is apparent that the City has made significant positive changes to its financial management practices over the <br />last several years, including the implementation of the financial forecast, to significantly improve upon historical <br />practices that in our assessment were lacking in a number of areas relative to long-term financial planning. These <br />changes align critical elements of the City’s past financial management practices with industry best practices and <br />will help to facilitate the City’s long-term financial planning, health, and resiliency. The City staff members with <br />whom we interacted were knowledgeable and transparent in sharing information and their dedication and focus <br />on providing the City Council and community with comprehensive financial information from which to make future <br />budgetary decisions was notable. We appreciate the open and honest discussions with the stakeholders we <br />interviewed and would welcome the opportunity to be of assistance to the City in the future as you work toward <br />addressing the recommendations outlined in this report. <br /> <br />Sincerely, <br /> <br /> <br /> <br />Dr. Bradford Rockabrand, CPA, CIA, MBA <br />Partner, Government Advisory Services <br />Scott Catlett, MPA <br />Director, Government Advisory Services <br /> <br /> <br />Page 12 of 33