File #: ID 14-1240    Version: 1 Name:
Type: Discussion and Possible Action Status: Agenda Ready
File created: 7/9/2015 In control: Community Redevelopment Agency
On agenda: 7/14/2015 Final action:
Title: ACCEPT THE INDEPENDENT AUDITOR'S REPORT FOR THE MCRA FOR THE PERIOD ENDING SEPTEMBER 30, 2014
Attachments: 1. BACKGROUND
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TO:                     Chair and Members of the Board

 

FROM:                     Diane Colonna, Executive Director

 

DATE:                     July 14, 2015

 

 

Title

ACCEPT THE INDEPENDENT AUDITOR’S REPORT FOR THE MCRA FOR THE PERIOD ENDING SEPTEMBER 30, 2014

Body

 

 

BACKGROUND:                                          

The audit of the CRA’s financial statements for FY 2014 was included in the City’s Comprehensive Annual Financial Report (CAFR).  In prior years the CRA’s audit was conducted separately from the City’s.  Pursuant to the Auditor General’s guidelines, when a CRA is included in a City’s annual financial report it is to be considered a Major Fund.  While the CRA’s financial statements were appropriately evaluated in the CAFR they were not listed as a Major Fund.  Therefore an additional, separate audit report was prepared and is presented for approval.

 

RECOMMENDATION:                     Accept the independent auditor’s report for the MCRA for the period ending September 30, 2014.

 

 

FISCAL IMPACT:                     n/a

 

 

CONTACT PERSON:   Diane Colonna, Executive Director