DATE:
January 21, 2025
TO:
Mayor and Council Members
Chair and Board Members, Hesperia Housing Authority
FROM:
Rachel Molina, City Manager
BY:
Casey Brooksher, Assistant City Manager
Eydee Jimenez, Economic Development Supervisor
SUBJECT:
Audited Hesperia Housing Authority Financial Statements for Fiscal Year Ended June 30, 2024, 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, 2024, and the Housing Successor SB 341 Report.
BACKGROUND
The State of California Health and Safety Code §34176.1(f) and §34327.6 require 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 2023-24. 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, 2024.
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 2025.
CITY GOAL SUPPORTED BY THIS ITEM
Financial Health – Maintain a balanced budget and adequate reserves.
FISCAL IMPACT
None.
ALTERNATIVE(S)
1. Provide alternative direction to staff.
ATTACHMENT(S)
1. June 30, 2024 Component Unit Financial Statements for the Hesperia Housing Authority
2. SB 341 Housing Successor Report
3. December 17, 2024 memo to the Board of Directors
City of Hesperia STAFF REPORT City of Hesperia STAFF REPORT City of Hesperia
STAFF REPORT
City of Hesperia
STAFF REPORT
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, 2024 January 21, 2025