South San Francisco City Council
January 24, 2024

Independent Auditor Presentation for the
Fiscal Year Ended June 30, 2023Annual Comprehensive Financial Report and Other Related Annual Audit Reports
City of South San FranciscoCity Council January 24, 2024 Amy L. Meyer, CPA
Partner
1 Government Code Section 54957.5 SB 343 Item Agenda: 01/24/2024 REG CC - Item #9 Annual Audit
 Maze and Associates – we are an independent
CPA firm, independent from the City of South SanFrancisco and its component units.  Audit was conducted in accordance with auditing
standards generally accepted in the United States ofAmerica and Government Auditing Standards issued bythe Comptroller General of the United States of America. 2 We Audit
 City (Annual Comprehensive Financial Report) Transportation Development Act (TDA) Financial Statements and Compliance
 Compliance Testing for Measures A and W
programs
 Single Audit required in current year - later
(federal award programs)
3 Results of Audit
 Independent Auditor’s Report (pg 1 of ACFR)
 Unmodified/clean opinions…fairly stated, in all material respects…in conformity with accounting principles generallyaccepted (GAAP) in the USA.  TDA (pg 1)
 Unmodified/clean opinion No compliance findings
 Measures A and W
 Unmodified/clean opinions No compliance findings
4 Results of Audit
 Management’s Discussion and Analysis
(prepared by Finance Staff – pg 5 of ACFR)
 Discusses significant activity for the fiscal year
 Major Events Include
 Implemented GASB 96, SBITAs
– none to record
 Police Station Phase I Completed - $53.4m Pension – increased $86m after a PY decrease of $60.9m OPEB – increased $6.8m after a PY decrease of $6.2m 5 Results of Audit
 Memorandum on Internal Control
Three possible categories for comments:
 Material Weakness Significant Deficiency Other Matters 6 Results of Audit
 Memorandum on Internal Control
No material weaknesses notedFour other mattersOther informational items 7 Results of Audit
 Required Communications
 Changes in Accounting Policies
 None – Four GASBs effective, but little to no impact
 Unusual Transactions, Controversial or Emerging Areas  None
 Significant Accounting Estimates Include
 Pension and OPEB Liabilities and Related Def Outflows/Inflows Fair Value of Investments Depreciation Compensated Absences Claims Liabilities 8 Results of Audit
 Required Communications (Continued)
 No difficulties encountered or disagreements with
management
 No material adjustments No uncorrected misstatements to report (deemed trivial) 9 Other Reports
 Agreed Upon Procedures – recalculation of the
Gann Limit (Appropriations Limit)
 City and District – no errors noted
10 QUESTIONS?
11 “We are in the business to help our clients succeed”