HomeMy WebLinkAbout2005-01-11 - AGENDA REPORTS - ANNUAL AUDIT CONTROLLER RPT (2)CONSENT CALENDAR
DATE:
SUBJECT:
DEPARTMENT:
Agenda Item: I—
CITY OF SANTA CLARITA
REDEVELOPMENT AGENCY
AGENDA REPORT
City Manager Approval:
Item to be presented by:
January 11, 2005
Barbara Boswell
JUNE 30, 2004 COMPONENT UNIT FINANCIAL STATEMENTS
AND STATE CONTROLLER REPORT
Administrative Services
RECOMMENDED ACTION
The Redevelopment Agency receive Component Unit Financial Statements and the
Redevelopment Agency State Controller Report for fiscal year, ended June 30, 2004.
BACKGROUND
The City's independent audit firm, Diehl, Evans and Company, has completed the annual audit of
the financial statements of the Redevelopment Agency of the City of Santa Clarita (a component
unit of the City) for the year ended June 30, 2004. Diehl, Evans and Company 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. No significant
findings were noted as a result of the audit.
Based on the audit performed, Diehl, Evans and Company 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 Agency's
Component Unit Financial Statements Report for FYE June 30, 2004.
RECEIVED
The Redevelopment Agency's State Controller Report is a report required by the State to report
audited financial information, as well as housing information within the Redevelopment Area to
the State Controller's Office.
ALTERNATIVE ACTIONS
No feasible alternative action has been identified by staff.
FISCAL IMPACT
None.
ATTACHMENTS
Component Unit Financial Statements available in the City Clerk's Reading File
State Controllers Report available in the City Clerk's Reading File