Town of Atherton
Measure W Funds
Report on Compliance with the
Agreement for Distribution of San Mateo County
Measure W Funds for
Local Transportation Purposes in Accordance
with the San Mateo County Congestion Relief Plan
For the Year Ended June 30, 2024
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INDEPENDENT AUDITOR'S REPORT ON MANAGEMENT’S ASSERTION
Honorable Mayor and Members of City Council of the
Town of Atherton, California
We have examined management of the Town of Atherton’s assertion, included in accompanying Management’s Report on Compliance with the Agreement for Distribution of San Mateo County Measure W Funds for Local Transportation Purposes in Accordance with the San Mateo County Congestion Relief Plan (the Agreement) between the Town of Atherton and the San Mateo County Transportation Authority dated December 2, 2019, that the Town complied with the requirements of the Agreement during the year ended June 30, 2024. Management is responsible for that assertion. Our responsibility is to express an opinion on management’s assertion about the Town’s compliance based upon our examination.
Our examination was conducted in accordance with the attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion that the City complied with the requirements of the Agreement is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about management’s assertion. The nature, timing and extent of procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management’s assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.
We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the engagement.
In our opinion, management’s assertion that the Town complied with the requirements of the Agreement for the year ended June 30, 2024 is fairly stated, in all material respects.
This report is intended solely for the information and use of management and the City Council and San Mateo County Transportation Authority and is not intended to be and should not be used by anyone other than those specified parties; however, this restriction is not intended to limit the distribution of this report, which is a matter of public record.
Pleasant Hill, California
October 31, 2024
TOWN OF ATHERTON
SCHEDULES OF MEASURE W FUND
AS OF AND FOR THE YEAR ENDED JUNE 30, 2024
TOWN OF ATHERTON
SCHEDULES OF MEASURE W FUND
AS OF AND FOR THE YEAR ENDED JUNE 30, 2024
BALANCE SHEET
Assets:
Cash and investments 887,747 $
Total Assets 887,747 $
Liabilities:
Accounts payable 102,316 $
Total Liabilities 102,316
Fund Balance:
Restricted 785,431
Total Fund Balance 785,431
Total Liabilities and Fund Balance 887,747 $
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
Revenues:
Measure W Sales Tax 199,083 $
Use of Money & Property 15,130
Total Revenues 214,213
Expenditures:
Audit and Financial 2,000
Capital Outlay 97,444
Total Expenditure 99,444
Net Change in Fund Balance 114,769
Fund Balance - beginning 670,662
Fund Balance - ending $ 785,431
October 3 I, 2024
San Mateo County Transportation Authority
120 San Carlos Avenue
San Carlos, California 94070
Town of Atherton
80 Fair Oaks Lane
Atherton, California 94027
Phone: (650) 752-0500
Management's Report on Compliance with the Agreement for Distribution of San Mateo County Measure W Funds for Local Transportation Purposes in accordance witlt tlte San Mateo County Congestion Relief Plan
The Town of Atherton is responsible for complying with the Agreement for Distribution of San Mateo County Measure W Funds for Local Transportation Purposes in Accordance with the San Mateo County Congestion Relief Plan (the Agreement) between the Town and the San Mateo County Transportation Authority entered into on December 2, 2019. The Agreement states that in return for receiving an annual allocation of a specified portion of the retail transactions and use tax approved by Measure W - San Mateo County Transportation Expenditure Plan (the Measure), the Town agrees that funds shall not be used to replace funds previously provided for public transportation investments, and that Town will limit the use of funds provided pursuant to this Agreement to invest in major arterial and local roadway improvements in key congested areas throughout the County, focusing on improving safety, reducing congestion, and supporting all modes of travel on the County's roadway system.
With respect to compliance with the Agreement, management attests to the following for the year ended June 30, 2024:
• Management is responsible for establishing and maintammg an effective internal control structure with respect to compliance with the Agreement; • Management is responsible for complying with the Agreement; • Management has evaluated the Town's compliance with the requirements of the Agreement;
• All Transactions, as summarized in the preceding Balance Sheet and Schedule of Revenues, Expenditures and Changes in Fund Balance for the Year Ended June 30, 2024, are in compliance with the Agreement.
George Rodericks
City Manager Finance Director
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