HomeMy WebLinkAbout2001-01-09 - AGENDA REPORTS - ANNUAL FINANCIAL REPORT (2)CITY OF SANTA CLARITA
AGENDA REPORT
City Manager
Item to be present4by: Steve Stark
CONSENT CALENDAR,
DATE: January 9, 2001
SUBJECT: JUNE 30, 2000 COMPREHENSIVE ANNUAL FINANCIAL REPORT
DEPARTMENT: Administrative Services
Receive Comprehensive Annual Financial Report for Fiscal Year Ended June 30, 2000.
The City's independent audit firm, Moreland & Associates, has completed the City's annual
audit for fiscal year ending June 30, 2000. Moreland & Associates conducted the audit in
accordance with generally accepted auditing standards, whereby an audit plan was prepared
and followed to obtain reasonable assurance that the City's financial statements were free from
material misstatements. The audit included a review, on a test basis, of documents supporting
the amounts and disclosures in the financial statements. The audit also included assessing the
accounting principles used and significant estimates made by management, as well as
evaluating the overall general purpose financial statement presentation.
Based on the audit performed, Moreland & Associates issued an unqualified audit opinion
letter. This opinion reflects the best level of opinion an organization can receive on its financial
statements. This letter is identified as the "Independent Auditors' Report" in the City's
Comprehensive Annual Financial Report for FYE June 30, 2000.
No feasible alternative action has been identified by staff.
None.
Audited Opinion Letter, dated September 15, 2000
(Comprehensive Annual Financial Report, Year Ended June 30 2000 is available in the City
Clerk's reading file.)W-Xfl'
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APPROWLB,19
1201 DOVE STREET. SUITE 680
j NEWPORT BEACH. CALIFORNIA 92680
MUPelailCC7tA[d000GQLPO, incl, (949)22,-0025
CERTIFIED PUBUC ACCOUNTANTS 570 RANCHEROS DRIVE, SUITE 260
SAN MARCOS, CA 92059
September 15, 2000 (760) 752-3-M
The Honorable City Council of
the City of Santa Clanta, Califomia
Independent Auditors' Report
T
I We have audited the accompanying general_ purpose financial statements of the'City of Santa Clarita,
California as of and for the year ended June 30, 2000, as listed in the table of contents. These general
purpose financial statements are the responsibility of the City of Santa Clarity management Our
responsibility is to express an opinion on these general purpose financial statements based on our audit
We conducted our audit in accordance with generally accepted auditing standards and the standards
I applicable to financial audits contained in Government Auditing Standards issued by the Comptroller
General of the United States. Those standards require that we plan and perform the audit to obtain
T reasonable assurance about whether the financial statements are free of material misstatement An audit
I includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial
- -
--statements. --An audit also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall general purpose financial statement presentation. -
We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to above present fairly, in all material
t respects, the financial position of the City of Santa Clarita as of June 30, 2000, and the results of its
T operations and cash flows of its proprietary fiord types for the year then ended in conformity with
generally accepted accounting principles.
i
In accordance with Government Auditing Standards_ we have also issued our report dated September 15,
2000 on our consideration of the City of Santa CMta internal control over financial reporting and our
tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an
integral part of an audit performed in accordance with Government Auditing Standards and should be
t read in conjunction with this report in considering the results of our audit
t Our audit was performed for the purpose of forming an opinion on the general purpose financial
t statements of the City of Santa Clarita taken as a whole. The accompanying combining individual fiord
and account group financial statements and schedules listed as supplementary information in the table of
contents are presented for purposes of additional analysis and are not a required part of the general
T purpose financial statements. The information has been subjected to the auditing procedures applied in
T the audit of the general purpose financial statements and, in our opinion, is fairly stated in all material
i respects, in relation to the general purpose financial statements taken as a whole. The statistcial
information listed in the table of contents was not audited by us and, accordingly, we do not express an
T opinion thereon.
b