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LSL:*: :: To the Board of Directors Santa Ana Police Officers Association Santa Ana, California 6. As part of our process to prepare the Summary of Receipts and Disbursements, we examined all disbursements made from the Trust's checking accounts to determine that disbursements were for the sole purpose of providing and administering health, dental, and long-term disability plans, which may include medical prescriptions, vision care, and/or long-term disability insurance for employees in the bargaining unit. Per Section 9 of the Agreement, the "use of City contributions to cover administrative costs of the program shall not exceed $50,000 during calendar year 2023. Each calendar year thereafter, the maximum amount of administrative costs funded using City contributions will be adjusted by an annual percentage in the Medical Care Services CPI..." We compared total administrative costs per our Summary of Receipts and Disbursements to the allowable limit per the Agreement. Results: We reviewed the applicable Consumer Price Index (CPI) table from the U.S. Bureau of Labor Statistics. The total allowable administrative costs for 2023 was $50,000, and actual administrative costs totaled $28,775. No exceptions were identified as a result of applying this procedure. 7. We obtained the Trust's monthly checking account bank statements and their corresponding monthly bank reconciliations for the Trust's checking account with Pacific Premier Bank for the period January 2023 through December 2023 and performed the following procedures: • Compared the ending bank reconciliation balance to the Trust's general ledger. • Compared the cash balance to the bank statement. • Determined that bank reconciliations were prepared in a timely manner and reviewed appropriately. • Compared outstanding checks to the subsequent month's bank statement. • Verified that monthly interest earned per the bank statements was recorded to the corresponding month's general ledger. Results: We noted that all bank statements were reconciled timely, were properly reviewed and approved, and were reconciled properly. Eligibility for Benefits 8. We obtained from the City the December 2023 list of current employees of the bargaining unit. We judgmentally selected 30 individuals from the various invoices submitted by the insurance providers and compared the names of the selected individuals to the City's December 2023 list to verify that the individuals selected were eligible to receive benefits from the trust. Results: We noted all individuals tested were eligible to receive benefits from the trust. Investment Balances and Transactions 9. Per the general ledger, we identified the checking account amounts that were paid to Charles Schwab. We compared those amounts to payments made per the checking account bank statements. We also compared those amounts to the deposits recorded in the Trust's Charles Schwab brokerage accounts. Results: We noted no payments were made to Charles Schwab during the year. 3