DATE:
December 19, 2023
TO:
Mayor and Council Members
Chair and Board Members, Hesperia Housing Authority
FROM:
Rachel Molina, City Manager
BY:
Casey Brooksher, Assistant City Manager
Anne Duke, Deputy Finance Director
Victor Knight, Economic Development Manager
SUBJECT:
Audited Hesperia Housing Authority Financial Statements for Fiscal Year Ended June 30, 2023 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, 2023 and Housing Successor SB 341 Report.
BACKGROUND
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, and 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 2022-23. 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, 2023.
Additionally, the HHA provides the Board with the audited financial statements and SB 341 Report, which satisfies the legal requirement set forth by the State. These documents are included as Attachments 1 and 2.
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 2024.
FISCAL IMPACT
None.
ALTERNATIVE(S)
Provide alternative direction to staff.
ATTACHMENT(S)
June 30, 2023 Component Unit Financial Statements for the Hesperia Housing Authority SB 341 Housing Successor Report
Page PAGE 2 of NUMPAGES 2
Staff Report to the Mayor, Council Members and Board of Directors of the Hesperia Housing Authority Audited Hesperia Housing Authority Financial Statements for Fiscal Year Ended June 30, 2023 December 19, 2023
City of Hesperia
STAFF REPORT