REQUEST FOR CITY COUNCIL ACTION
DATE: 12/06/2023
TO: Honorable Mayor and City Council Members
FROM: Finance Department
SUBJECT:
Title
RECEIVE AND FILE THE AUDITOR'S REPORTS RELATED TO THE FISCAL YEAR 2023 ANNUAL FINANCIAL AUDITS, AUDITOR'S COMMUNICATION, ANNUAL COMPREHENSIVE FINANCIAL REPORT, DEVELOPMENT IMPACT FEES ANNUAL REPORT, AND ANNUAL REPORT ON VOTER APPROVED DEBT FOR FISCAL YEAR ENDING JUNE 30, 2023.
End
EXECUTIVE SUMMARY:
This staff report asks the City Council to receive and file the annual reports and auditor's reports for Fiscal Year 2023. The City contracted with an independent audit firm, The Pun Group, LLC (TPG), to perform the annual audit for the fiscal year ending June 30, 2023. The audit and year-end process have been completed, and the package with the auditor's reports on the City's financials and compliances is presented for review and filing. TPG has issued an unmodified opinion on the City's financial statements for the fiscal year ending June 30, 2023. An unmodified opinion concludes that the financial statements of the City are presented fairly, in all material respects, and in accordance with generally accepted accounting principles. Also included are the Annual Report on Voter Approved Debt prepared by our consultant Spicer Consulting Group, and the Development Impact Fees (AB1600) Report prepared by the Finance Department for review and file.
RECOMMENDED ACTION:
Recommended action
That the City Council:
a. Receive and file the following annual reports:
i. Annual Comprehensive Financial Report (ACFR) of the City of Corona for the fiscal year ended June 30, 2023.
ii. Trip Reduction Fund Audit Report for the fiscal year ended June 30, 2023.
iii. Development Impact Fees (AB1600) Annual Report for the fiscal year ended June 30, 2023.
iv. Report on Voter Approved Debt for the fiscal year ended June 30, 2023.
b. Receive and file the following auditor's reports:
i. Auditor's Report on Applying Agreed-Upon Procedures to A...
Click here for full text