1 City of San Leandro
Independent Auditor’s Presentation
For Fiscal Year Ended June 30, 2024
VIKKI C. RODRIGUEZ, CPA
ENGAGEMENT PARTNER
Background
2 Who We Are 3
In business since
1979
Municipal auditor
since 1987
> 150 municipal
entities
•> 50 cities/towns
•> 40 ACFRs
Independent of
the Town
4 Annual Audit
Services for fiscal year ended June 30, 2024:
Audit of City’s basic financial statements
Appropriation Limit calculation agreed-upon- procedures (AUP) Compliance audit of Federal Awards (Single Audit)
County Measure (B,BB,F) Compliance Reports
Transportation Development Act (TDA) Compliance
Conducted according to auditing standards
generally accepted in the USA, and Government
Auditing Standards
AUDIT Timing 5
Interim
July 2024
Internal control environment
Control Tests
Final
November 2024
Testing of financial balances
Preparation of footnotes
Results
6 Financial
Statement Audit
• Unmodified (“Clean”)
Opinions
County Measure /
TDA Compliance
• No exceptions noted
Annual Comprehensive
Financial Report
7 Components of an Annual
Comprehensive Financial Report
Basic Financial Statements:
Auditor’s Opinion
MD&A (written by
management)
Statements
Footnotes
Other Components:
Transmittal Letter
Required Supplemental
Information
Supplemental Information
Statistical Section
8 9
City once again
received the
GFOA award for
its June 30, 2023
ACFR
City will again
submit its June
30, 2024 ACFR
Entity-wide vs. Fund Financial Statements
10 Entity-wide Level Fund Level
Current Assets
Long-Term Assets
Current Liabilities
Long-Term Liabilities
Equity Net Position Fund Balance
Implementation of GASB 100 –
Accounting for Changes and Error
Corrections
GASB 100 – Accounting
for Changes and Error
Corrections
Objective of this
Statement is to enhance
accounting and financial
reporting requirements to
provide more
understandable, reliable,
relevant, consistent and
comparable information
for making decisions or
assessing accountability.
Ongoing requirement for
any accounting changes
or error corrections.
Impacts on 6/30/24
Financial Statements
Governmental Fund
Statement of Revenues,
Expenditures and
Changes in Net Assets –
shows movement of
Major Funds to Nonmajor
(Other) Funds
General Fund Combining
– restatement of $1.5M
from Developer Fees to
General Purpose
activities
See Footnote 1Q
11 Entity (City)-wide 12
Maze & Associates, CPAs
Assets $581.3m
Deferred outflows
$71m
Liabilities $348.3m
Deferred inflows
$13.7m
Net position
$290.3m
2024 vs. 2023
Net Position at 6/30 2024 2023 Change
Net Investment in
capital assets
$193.0m $182.6m $10.4m
Restricted $115.0m $78.6m $36.4m
Unrestricted ($17.8m) ($3.7m) ($14.1m)
Total $290.2 $257.5m $32.7m
13 Financial Highlights – General Fund
Fund Balance $106.9m
$9.6m increase
14 •Non-spendable $6.3m (Advances and Loans)
•Restricted $29m (Pension Trust)
•Assigned $1.2m
•Unassigned $70.3m
15 Other Highlights
Contributed $14.2m to the Section 115
Irrevocable Pension Trust
Recorded sale of land and loan of $26m in
Shoreline Enterprise Fund
Net Pension Liability increased $11.3m to $235.7m
Net Other Post Employment Benefits (OPEB)
Liability decreased $3.4m to $1.1m
Audit Process
16 Audit Process
Markedly improved from previous years
Completed much more timely
Staff prepared on time and very responsive
Less post-closing adjustments
Open items on engagement:
Single Audit
Completion of Memorandum on Internal Control
and Required Communications
17 23
QUESTIONS?