DATE:
January 18, 2022
TO:
Mayor and Council Members
Chair and Board Members, Hesperia Housing Authority
FROM:
Nils Bentsen, City Manager
BY:
Casey Brooksher, Director of Administrative Services
Anne M. Duke, Deputy Finance Director
Victor Knight, Economic Development Manager
SUBJECT:
Audited Hesperia Housing Authority Financial Statements for Fiscal Year Ended June 30, 2021 and Housing Successor SB 341 Report
RECOMMENDED ACTION
It is recommended that the City Council and the Hesperia Housing Authority (HHA) Board receive and file the audited Hesperia Housing Authority - Component Unit Financial Statements for the Fiscal Year Ended June 30, 2021 and Housing Successor SB 341 Report.
BACKGROUND
State law requires city governments to be audited each fiscal year by an independent auditor. City governments that receive Federal funding in excess of $750,000 in a fiscal year are also required by Federal law to be audited.
The State of California Health and Safety Code §34176.1(f) requires that the housing successor (HHA) shall conduct, and provide to its governing body, an independent financial audit of the Low and Moderate Income Housing Asset fund within six months after the end of each fiscal year. In addition, the housing successor shall provide to its governing body the SB 341 report, as a component of the HHA audit.
ISSUES/ANALYSIS
The Agency's independent auditor, CliftonLarsonAllen LLP (CLA) performed an audit of the HHA for Fiscal Year 2020-21. The document that comprises the Financial Statements, commonly referred to as the Audit for the Authority, is the Hesperia Housing Authority - Component Unit Financial Statements – June 30, 2021.
Additionally, on December 31, 2021, the HHA provided the Board with the audited financial statements and SB 341 Report, which satisfies the legal requirement set forth by the State, refer to Attachment 3.
As in previous years, the Annual Comprehensive Financial Report, which reflects the Citywide Financial Statements, Component Unit Financial Statements for the Fire Protection District, Community Development Commission, HHA, and Water District, as well as the Single Audit, will be formally presented to the City Council in April of 2022.
FISCAL IMPACT
None.
ALTERNATIVE(S)
Provide alternative direction to staff.
ATTACHMENT(S)
June 30, 2021 Component Unit Financial Statements for the Hesperia Housing Authority SB 341 Housing Successor Report
December 31, 2021 memo to the Board of Directors
Page PAGE 2 of NUMPAGES 2
Staff Report to the Mayor and Council Members and Board of Directors of the Hesperia Housing Authority Audited Hesperia Housing Authority Financial Statements for Fiscal Year Ended June 30, 2021 January 18, 2022
City of Hesperia
STAFF REPORT