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Finance and Management Services <br /> www.santa-ana.org/finance <br /> Item # 9 <br /> City of Santa Ana <br /> 20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br /> January 18, 2022 <br /> TOPIC: Fiscal Year 2020-21 Annual Comprehensive Financial Report, Related Audit <br /> Reports, and Measure X Agreed-Upon-Procedures Report <br /> AGENDA TITLE: <br /> Receive and File— Fiscal Year 2020-21 Annual Comprehensive Financial Report, Related <br /> Audit Reports, and Measure X Agreed-Upon-Procedures Report <br /> RECOMMENDED ACTION <br /> Receive and file the following audited and separately issued reports for the Fiscal Year <br /> Ended June 30, 2021: <br /> 1 . The Auditor's unmodified "clean" opinion letter for the fiscal year 2020-21 Audited <br /> Financial Statements included in the Annual Comprehensive Financial Report <br /> (ACFR) <br /> 2. Government Auditing Standards (GAS) Letter <br /> 3. Governance Letter <br /> 4. Air Quality Management District (AQMD) Audited Financial Statements <br /> 5. The Auditor's report on the Appropriations Limit (GANN Limit) <br /> 6. The Auditor's report on compliance with the Statement of Investment Policy <br /> 7. Measure X Agreed-Upon-Procedures Report <br /> DISCUSSION <br /> The Finance and Management Services Agency — Accounting Division (Accounting <br /> Division) is the lead on various audit and separately issued reports compiled and <br /> prepared by the City's Independent Auditor, CliftonLarsonAllen LLP. Outlined below is a <br /> list of the reports and related status. <br /> AUDIT REPORTS: <br /> Audited Financial Statements — Annual Comprehensive Financial Report for the Fiscal <br /> Year Ended June 30, 2021 <br /> Annually, the Accounting Division prepares an ACFR, which includes the City's audited <br /> financial statements and statistical information for each fiscal year. The ACFR is prepared <br /> in accordance with the Generally Accepted Accounting Principles (GAAP), along with the <br /> reporting requirements of the Governmental Accounting Standards Board (GASB). The <br /> City's independent public accounting firm, CLA, audits the financial statements, reviews <br /> other financial items at the City's request, and issues reports. <br /> City Council 9 - 1 1/18/2022 <br />