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)257+(<($56(1'('-81($1' ),1$1&,$/67$7(0(176 ATTACHMENT 2
CITY OF PLEASANTON, CALIFORNIA
COMMUNITY TRANSIT SERVICES,
SENIOR CITIZEN, AND DISABLED
TRANSPORTATION PROGRAM FUND
Financial Statements
For The Years Ended June 30, 2023 and 2022
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,QGHSHQGHQW$XGLWRUV¶5HSRUWRQ,QWHUQDO&RQWURO2YHU)LQDQFLDO5HSRUWLQJ DQGRQ&RPSOLDQFHDQG2WKHU0DWWHUV%DVHGRQDQ$XGLWRI)LQDQFLDO6WDWHPHQWV 3HUIRUPHGLQ $FFRUGDQFHZLWKGovernment Auditing Standards
,QGHSHQGHQW$XGLWRUV¶5HSRUWRQ&RPSOLDQFHDQGRQ
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1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
INDEPENDENT AUDITORS’ REPORT
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the Co mmunity Transit Services, Senior Citizen, and Disabled Transportation Program Fund (the Program) of the City of Pleasanton, California (the “City”), as of and
for the years ended June 30, 2023 and 2022, and the related not es to the financial statements, which collectively comprise the Program’s basic financial statements as listed in the table of contents.
In our opinion, the financial st atements referred to above pres ent fairly, in all material respects, the respective financial position of the Program of the City, as of June 30, 2023 and 2022, and the respective changes in financial position, and cash flows thereof, for the years then ended in a ccordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards , issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial State ments section of our report. We are required to be independent of the City and to meet our other ethical responsib ilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Emphasis of Matter
As discussed in Note 1, the financial statements of the Program are intended to present the financial position, the changes in financial position, and cash flows of only the trans actions of the Program. They do not purport to, and do not, present fairly the financial position of the City, as o f June 30, 2023 and 2022, the changes in its financial position, or its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including an y currently known information that may raise substantial doubt shortly thereafter.
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to is sue an auditor’s report that includes our opinions.
Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted a uditing standards and Government Auditing Standards will always detect a material m isstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted au diting standards and Government Auditing Standards, we:
Exercise professional judgment and maintain professional skept icism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to th ose risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of inter nal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Required Supplementary Information
Management has omitted management’s discussion and analysis that accounting principles generally accepted in the United States of America require to be presented to supplem ent the basic financial statements. Such missing information, although not a part of the basic financial stateme nts, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of fi nancial reporting for placing the basic financial statements in an appropriate operational, economic, or historic al context. Our opinions on the basic financial statements are not affected by this missing information.
2
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 19, 2023, on our consideration of the City’s internal control over the Progr am‘s financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contra cts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over the Program‘s financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering City’s internal control over the Program‘s financial reporting and compliance.
Sacramento, California
December 19, 2023
3
2023 2022
Current assets:
Cash and investments 602,902$ 361,607$
Intergovernmental receivables 113,770 116,272 Interest receivable 1,181 648
Total current assets 717,853 478,527
Noncurrent assets:
Capital assets, depreciable, net 43,087 58,113 Total noncurrent assets 43,087 58,113
Total Assets 760,940 536,640
Accounts payable 81,300 294
Payroll payable 285 1,487
Due to City of Pleasanton - 1,150 Unearned revenue 1,555 27,278
Total Liabilities 83,140 30,209
Invested in capital assets 43,087 58,113
Restricted for Community Transit Services activity 634,713 448,318 Total Net Position 677,800$ 506,431 $
NET POSITION
LIABILITIES
CITY OF PLEASANTON
COMMUNITY TRANSIT SERVICES, SENIOR CITIZEN, AND
DISABLED TRANSPORTATION PROGRAM FUND
Statements of Net Position
June 30, 2023 and 2022
ASSETS
See Notes to Financial Statements.
4
2023 2022
Personnel services 29,710$ 66,856$
Transportation 66,066 32,575
Repairs and maintenance 30,219 -
Materials, supplies, and services 386,215 285,961 Depreciation 15,026 15,026
Total Operating Expenses 527,236 400,418
Operating Loss (527,236) (400,418)
Metropolitan Transportation Commission Grant 79,088 58,843 Measure B Paratransit pass-through funds - 112,603 Measure BB Paratransit pass-through funds 641,605 379,868 Interest income and loss on fair market value of investments (22 ,088) (12,477) Total Nonoperating Revenues 698,605 538,837 171,369 138,419
Beginning of Year 506,431 368,012
End of Year 677,800$ 506,431 $
COMMUNITY TRANSIT SERVICES, SENIOR CITIZEN, AND
CITY OF PLEASANTON
OPERATING EXPENSES
NONOPERATING REVENUES
CHANGES IN NET POSITION
NET POSITION
For the Years Ended June 30, 2023 and 2022
Statements of Revenues, Expenses, and Changes in Net Position
DISABLED TRANSPORTATION PROGRAM FUND
See Notes to Financial Statements.
5
2023 2022
Cash paid to customers and users (23,221)$ (9,657)$ Cash paid to suppliers for goods and services (401,494) (341,522) Cash paid to others (30,912) (67,790)
Net Cash Used by Operating Activities (455,627) (418,969) Metropolitan Transportation Commission grant received 79,088 58,843 Measure B Paratransit pass-through funds received - 112,603 Measure BB Paratransit pass-through funds received 641,605 379,868 Repayment made to City of Pleasanton (1,150) (25,629) Net Cash Provided by Noncapital Financing Activities 719,543 525,685 Interest income and loss on fair market value of investments (22,621) (12,522) Net Cash Used by Investing Activities (22,621) (12,522) Net Increase in Cash and Cash Equivalents 241,295 94,194 Beginning of year 361,607 267,413
End of year 602,902$ 361,607 $
Operating loss (527,236)$ (400,418)$
Adjustments to reconcile operating loss to net cash
used by operating activities:
Depreciation
15,026 15,026
Change in operating assets and liabilities:
(Increase) decrease in accounts receivable 2,502 (36,935) Increase (decrease) in accounts payable 81,006 (22,769) Decrease in payroll payable (1,202) (1,151) Increase (decrease) in unearned revenue (25,723) 27,278 Net Cash Used by Operating Activities (455,627)$ (418,969)$
CITY OF PLEASANTON
COMMUNITY TRANSIT SERVICES, SENIOR CITIZEN, AND
DISABLED TRANSPORTATION PROGRAM FUND
Statements of Cash Flows
For the Years Ended June 30, 2023 and 2022
NET CASH USED BY OPERATING ACTIVITIES:
CASH FLOWS FROM OPERATING ACTIVITIES:
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:
CASH FLOWS FROM INVESTING ACTIVITIES
CASH AND CASH EQUIVALENTS:
RECONCILIATION OF OPERATING LOSS TO
See Notes to Financial Statements.
6
CITY OF PLEASANTON, CALIFORNIA
COMMUNITY TRANSIT SERVICES, SENIOR CITIZEN, AND DISABLED
TRANSPORTATION PROGRAM FUND
Notes to the Financial Statements
For the Years Ended June 30, 2023 and 2022
NOTE 1: DESCRIPTION OF PROGRAM
The City of Pleasanton (City) has developed a program to provide transportation services to residents who are 70 years of age or older or to residents 18 – 69 years of age who meet the Americans with Disabilities Act (ADA) eligibilit y. The program is funded in pa rt by a grant under the Transportation Development Act (TDA) Article 4.5, Measure B funds, and Measure BB funds. The receipt of Measure B funds from the Alameda County Transportation Commission ended on March 31, 2022. The City subsidizes the program for all costs not recoverable under the grant agreement, Measure B funds, or Measure BB funds. In December of 2020, the City awarded an operator agreement to Black Tie Transportation, LLC to assume management and daily operations of the City’s Paratransit Service (PPS) effective February 1, 2021.
Beginning on January 1, 2023, the City relinquished 50 percent of its FY 2022/23 TDA Article 4.5 allocation to the Livermore Amador Valley Transportation Author ity (LAVTA) to provide ADA transportation services to residents of the City. In addition, the City entered into a Memorandum of Understanding with LAVTA and transferred 12.5 percent of its Measure BB funds to them for the same services. The percentage alloca tions will increase to 100 perce nt for TDA Article 4.5 funds and 30 percent for Measure BB funds in FY 2023/24.
The Community Transit Services, Senior Citizen, and Disabled Tr ansportation Program Fund (Program) is reported as a singl e enterprise fund within the Ci ty’s basic financial statements. These financial statements are not intended to present fairly the financial position of the City and the changes
in its financial position and cash flows thereof in accordance with generally accepted accounting principles in the United States (GAAP).
NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Basis of Accounting
The financial activities of the Program are accounted for in a separate enterprise fund. Enterprise funds account for activities where the costs of providing servi ces, including capital costs (such as depreciation or debt service), are recovered with fees and charges, rather than with taxes or similar revenues. Enterprise funds use the accrual basis of accounting and recognize revenues when
earned and expenses when incurred.
Enterprise funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services in connection with the Program’s principal ongoing operations. The principal operating revenue of the Program is revenue received for transportation services. Operating expenses for the program include the cost of administrating the services. All revenues and expenses not meeting this definition are reported as nonoperating revenue and expenses.
B. Cash and Equivalents
Cash amounts are pooled with cash and investments of the City. The pooled funds are invested in accordance with the City’s investment policy established pursuant to State law. For purposes of the Statement of Cash Flows of the Program, cash and cash equiv alents include all investments, as the City operates an internal cash management pool which maintains the general characteristics of a demand deposit account. As of June 30, 2023 and 2022, the Program had $602,902 and $361,607, respectively, pooled with the City.
7
CITY OF PLEASANTON, CALIFORNIA
COMMUNITY TRANSIT SERVICES, SENIOR CITIZEN, AND DISABLED
TRANSPORTATION PROGRAM FUND
Notes to the Financial Statements
For the Years Ended June 30, 2023 and 2022
NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. Statement of Cash Flows
For purposes of the statement of cash flows, the Program considers all cash deposited in the City’s
investment pool to be cash and cash equivalents.
D. Vehicles and Equipment
Vehicles and equipment purchases are capitalized at historical cost. Depreciation is provided on such equipment using the straight-line method over estimated lives as follows:
Vehicles 8 years
Equipment 5-20 years
E. Unearned Revenue
Unearned revenue consists of unused grant funds received from the Metropolitan Transportation Commission.
F. Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The City categorizes its fair value measurements within the fair value h ierarchy established by generally accepted accounting principles. The fair value hierarchy catego rizes the inputs to valuation techniques used to measure fair value into three levels based on the extent to which inputs used in measuring fair value are observable in the market.
Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 inputs are inputs – other than quoted prices included w ithin Level 1 – that are observable for an asset or liability, either directly or indirectly.
Level 3 inputs are unobservable inputs for an asset or liability.
If the fair value of an asset or liability is measured using in puts from more than one level of the fair value hierarchy, the measurement is considered to be based on the lowest priority level input
that is significant to the entire measurement.
G. Estimates
The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
8
CITY OF PLEASANTON, CALIFORNIA
COMMUNITY TRANSIT SERVICES, SENIOR CITIZEN, AND DISABLED
TRANSPORTATION PROGRAM FUND
Notes to the Financial Statements
For the Years Ended June 30, 2023 and 2022
NOTE 3: CAPITAL ASSETS
A summary of the Program’s capital assets at June 30, 2023 and 2022 is as follows:
Balance
June 30, 2021 Additions Deletions
Balance
June 30, 2022
Depreciable assets:
Vehicles 603,859$ - $ - $ 603,859$ Equipment 33,223 - - 33,223 Total depreciable assets 637,082 - - 637,082 Less accumulated depreciation
Vehicles (530,720) (15,026) - (545,746) Equipment (33,223) - - (33,223) Total accumulated depreciation (563,943) (15,026) - (578,969) Total depreciable assets, net 73,139$ (15,026) $ -$ 58,113$
NOTE 4: ALLOCATION STATUS
NOTE 5: CONTINGENT LIABILITIES
Grants have been received by the City for specific purposes that are subject to review and audit by the grantor agencies. Such audits could lead to a request for reimb ursement for expenses disallowed under the terms of the grant. The amount, if any, of expenses that may be disallowed under the terms of the granting agencies cannot be determined at this time, although the City expects such amounts, if
any, to be immaterial.
Balance
June 30, 2022 Adjustments* Additions Deletions
Balance
June 30, 2023
Depreciable assets:
Vehicles 603,859 $ (53,807) $ - $ (252,731) $ 297,321 $ Equipment 33,223 - - - 33,223 Total depreciable assets 637,082 (53,807) - (252,731) 330,544 Less accumulated depreciation
Vehicles (545,746) 53,807 (15,026) 252,731 (254,234) Equipment (33,223) - - - (33,223) Total accumulated depreciation (578,969) 53,807 (15,026) 252,731 (287,457) Total depreciable assets, net 58,113$ -$ (15,026)$ -$ 43,087$ * Adjustments pertain to a previously disposed of vehicle that was inadvertently omitted from prior financial statements. There is no fund balance impact of this adjustment. 2023 2022
Metropolitan Transportation Commission allocations received 79,088$ 86,121$ 9
1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
INDEPENDENT AUDITORS’ REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS
BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
We have audited, in accordance with the auditing standards gene rally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial stateme nts of the Community Transit Services, Senior Citizen, and Disabled Transportation Program Fund (“the Program”) of the City of Pleasanton, California (“the City”), as of and for the y ear ended June 30, 2023, and t he related notes to the financial statements, which collectively comprise the Program’s basic financial statements, and have issued our report thereon dated December 19, 2023.
Report on In
ternal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control over the Program’s financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allo w management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements, on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected, on a timely b asis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less s evere than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal contr ol that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Program’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and ma terial effect on the financial statements.
However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the e ffectiveness of the City’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s inter nal control and compliance. Acco rdingly, this communication is not suitable for any other purpose.
Sacramento, California
December 19, 2023
11
1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
INDEPENDENT AUDITORS’ REPORT ON COMPLIANCE
AND ON INTERNAL CONTROL OVER COMPLIANCE
To the Honorable Mayor and Members of the City Council
City of Pleasanton, Califo
rnia
Report on Compliance
Opinion
We have audited the Community Transit Services, Senior Citizen, and Disabled Transportation Program Fund (“the Program”) of the City of Pl easanton, California’s (“the City”) compliance with the types of compliance requirements described in Section 6667 of the Rules and Regulation of the California Administrative Code in the Transportation Development Act Statutes and Administrative Code for 1987 (the Act) and the allocation instructions and resolutions of the Metropolitan Transportation Commission for the year ended June 30, 2023.
In our opinion, the City complied, in all material respects, wi th the types of compliance requirements referred to above that could have a direct and material effect on the City’s compliance with the Act for the year ended June 30, 2023.
Basis for Opinion
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of the Act. Our responsibilities under those standards and the Act are further described in the Auditor’s Responsibilities for the Audit of Compliance section of our report.
We are required to be independent of the City and to meet our o ther ethical responsibilities, in accordance with relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on complianc e for the Program. Our audit does not provide a legal determination of the City’s compliance with the compliance requirements referred to above.
Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the design, implementation, and maintenance of effective internal control o ver compliance with the requirements of laws, statutes, regulations, rules, and provisions of contracts or grant agreements applicable to the Program.
Auditor’s Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud o r error, and express an opinion on the City’s compliance based on our audit. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards, Government Auditing Standards, and the Act will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
To the Hon
orable Mayor and Members of the City Council
City of Pleasanton, California
Noncompliance with the compliance requirements referred to above is considered material if there is a substantial likelihood that, individually or in the aggregate, it would inf luence the judgment made by a reasonable user of the report on compliance about the City’s compliance with the requirements of the Act as a whole.
In performing an audit in accordance with generally accepted auditing standards, Government Auditing Standards, and the Act, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material noncompliance, wheth er due to fraud or error, and design and perform audit procedures responsive to those risks. Such proced ures include examining, on a test basis, evidence regarding the City’s compliance with the compliance re quirements referred to above and performing such other procedures as we considered necessary in the circumstances. Obtain an understanding of the City’s internal control over compliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances and to test and report on internal control over compli
ance in accordance with the Act, but not for the purpose of expressing an opinion on the effectiveness of the City’s i
nternal control over compliance. Accordingly, no such opinion is expressed.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over compliance that we identified during the audit.
Report on Internal Control over Compliance
A deficiency in internal control over compliance exists when the design or operation of a control over complian ce does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of the Act on a timely basis. A material weakness in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of the Act will not be prevented, or detected and c orrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal c o n t r o l o v e r compliance with a type of compliance requirement of the Act that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance.
Our
consideration of internal control over compliance was for t he limited purpose described in the Auditor’s Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknes ses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we d id not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified.
Our audit was not designed for the purpose of expressing an opi nion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Act. Accordingly, this report is not suitable for any other purpose.
Sacramento, California
December 19, 2023
13
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)257+(<($56(1'('-81($1' ),1$1&,$/67$7(0(176 ATTACHMENT 3
CITY OF PLEASANTON, CALIFORNIA
TRANSPORTATION DEVELOPMENT ACT
ARTICLE III FUND PROGRAM
Financial Statements
For the Years Ended June 30, 2023 and 2022
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,QGHSHQGHQW$XGLWRUV¶5HSRUWRQ,QWHUQDO&RQWURO2YHU)LQDQFLDO5HSRUWLQJ DQGRQ&RPSOLDQFHDQG2WKHU0DWWHUV%DVHGRQDQ$XGLWRI)LQDQFLDO6WDWHPHQWV 3HUIRUPHGLQ $FFRUGDQFHZLWKGovernment Auditing Standards
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1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
INDEPENDENT AUDITORS’ REPORT
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanyi ng financial statements of the Transportation Development Act Article III Fund Program (the Program) of the City of Pleasanton, California (th e “City”), as of and for the years ended
June 30, 2023 and 2022, and the related notes to the financial statements, which collectively comprise the Program’s basic financial statements as listed in the table of contents.
In our opinion, the financial st atements referred to above pres ent fairly, in all material respects, the respective financial position of the Program of the City, as of June 30, 2023 and 2022, and the respective changes in financial position for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards , issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial State ments section of our report. We are required to be independent of the City and to meet our other ethical responsib ilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Emphasis of Matter
As discussed in Note 1, the financial statements of the Program are intended to present the financial position, the changes in financial position, and cash flows of only the trans actions of the Program. They do not purport to, and do not, present fairly the financial position of the City, as o f June 30, 2023 and 2022, the changes in its financial position, or its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including an y currently known information that may raise substantial doubt shortly thereafter.
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to is sue an auditor’s report that includes our opinions.
Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted a uditing standards and Government Auditing Standards will always detect a material m isstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted au diting standards and Government Auditing Standards, we:
Exercise professional judgment and maintain professional skept icism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the au dit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and t he reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Required Supplementary Information
Management has omitted the management’s discussion and analysis and budgetary comparison schedules that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental A ccounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appr opriate operational, economic, or historical context.
Our opinions on the basic financial statements are not affected by this missing information.
2
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 19, 2023, on our consideration of the City’s internal control over the Progr am‘s financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contra cts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over the Program‘s financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering City’s internal control over the Program‘s financial reporting and compliance.
Sacramento, California
December 19, 2023
3
CITY OF PLEASANTON
TRANSPORTATION DEVELOPMENT ACT - ARTICLE III FUND PROGRAM Balance Sheets
June 30, 2023 (with comparative totals for June 30, 2022) 2023 2022
Assets
Due from Metropolitan Transportation Commission 104,957$ 20,163$ Total Assets 104,957$ -$
Liabilities, Deferred Inflows of Resources and Fund Balance Liabilities
Accounts payable 50,827$ - $
Due to City of Pleasanton 54,130 20,163
Total Liabilities 104,957 20,163
Deferred Inflows of Resources
Unavailable revenue 104,957 -
Total Deferred Inflows of Resources 104,957 - Total Liabilities and Deferred Inflows of Resources 209,914 20,163 Fund Balance (Deficit)
Unassigned (deficit) (104,957) -
Total Fund Balance (Deficit) (104,957) -
Total Liabilities, Deferred Inflows of Resources and
Fund Balance (Deficit) 104,957$ 20,163$
See Notes to Financial Statements.
4
CITY OF PLEASANTON
TRANSPORTATION DEVELOPMENT ACT - ARTICLE III FUND PROGRAM Statements of Revenues, Expenditures and Changes in Fund Balance For the Year Ended June 30, 2023 (with comparative totals for the year ended June 30, 2022) 2023 2022
Expenditures
Bicycle and Pedestrian Program (Note 3) 104,957 $ - $ Miscellaneous 20,163 -
Total Expenditures 125,120 -
Excess of Revenues Over (Under) Expenditures (125,120) - Other Financing Sources
Transfers In 20,163 -
Total Other Financing Sources 20,163 -
Net Change in Fund Balance (104,957) -
Fund Balance, Beginning of Year - - Fund Balance (Deficit), End of Year (104,957) $ - $ See Notes to Financial Statements.
5
CITY OF PLEASANTON, CALIFORNIA
TRANSPORTATION DEVELOPMENT ACT - ARTICLE III FUND PROGRAM Notes to the Financial Statements
For the Years Ended June 30, 2023 and 2022
NOTE 1: DESCRIPTION OF REPORTING ENTITY
The City of Pleasanton (City) Transportation Development Act Ar ticle III Fund Program (Program)
includes the financial activities associated with the projects funded by the State of California Transportation Development Act (TDA). The State of California c reated a local transportation fund for each County funded by one-quarter of a cent of the 7 percen t state sales tax. Article 3 of the TDA permits local agencies to spend a portion of that money (not to exceed 2 percent) on facilities provided for the exclusive use of pedestrians and bicycles. The projects are distributed through the Metropolitan Transportation Commission (MTC), which is the agency responsible for allocation of funds to eligible claimants with in the greater San Francisco Bay Area.
NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of significant accounting policies o f the City that conform to generally accepted accounting principles as applicable to governments.
A. Fund Accounting
The Program is part of the City and is included in the special revenue funds of the basic financial statements of the City . A fund is a set of self-balancing accounts, which comprise its assets, liabilities, fund equity, revenues, and expenditures.
B. Basis of Accounting
Basis of accounting refers to when revenues and expenditures ar e recognized. The Program is accounted for in a governmental fund type and the modified accr ual basis of accounting is used. Under the modified accrual basis, revenues are recognized when they become measurable and
available as net current assets. TDA Article III revenues are r ecognized when qualifying project expenditures are incurred. Expenditures are generally recognized when they are incurred.
NOTE 3: TDA ARTICLE III REVENUE/EXPENSE
No allocation instructions were received in Fiscal Year 2021/22 . The City received allocation instructions from the Metropolitan Transportation Commission in Fiscal Year 2022/23 for the project
shown below.
Allocation
Instruction # Grant Amount
Expended from
Inception to
6/30/2023
Revenue received
Inception to
6/30/2023
Bike and Pedestrian Improvements
Various Projects 23001088 173,734 $ 104,957 $ - $ Project Name
In addition, the City recognized $20,163 of miscellaneous expen ditures which represent the write-off of prior years’ TDA allocations that have since been rescinded.
6
1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
INDEPENDENT AUDITORS’ REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS
BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Members of the City Council
City of Pleasanton, California
We have audited, in accordance with the auditing standards gene rally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the Transportation Development Act Article III Fund Program (“the Program”) of the City of Pleasanton, Califor nia (“the City”), as of and for the year ended June 30, 2023, and the related notes to the financial statement s, which collectively comprise the Fund’s basic financial statements, and have issued our report thereon dated December 19, 2023.
Report on In
ternal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control over the Program’s financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allo w management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements, on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected, on a timely b asis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less s evere than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal contr ol that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Program’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and ma terial effect on the financial statements.
However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.