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4 1 P a g e- AUDITING SERVICES- REQUEST FOR PROPOSAL <br />2. Ten internal service funds including public works administration, equipment maintenance <br />and risk management. <br />3. Seven enterprise funds including water and sewer. <br />4. Seven special revenue funds including the Housing Authority Fund. <br />5. Agency Funds - funds held by the City in a trustee capacity. <br />6. Seven Redevelopment Agency Funds <br />7. Five Capital Project funds <br />8. One Debt Services fund <br />C. Budgetary Basis of Accounting <br />Budgets are adopted annually by the City Council by minute action and are prepared for each fund <br />in accordance with its basis of accounting (generally modified accrual). The City Manager is <br />responsible for preparing the budget and for its implementation after adoption. All unencumbered <br />appropriations are lapsed at year end. The City Council and the City Manager has the authority to <br />amend the budget during the year. <br />The City maintains budgetary controls to ensure compliance with legal provisions embodied in the <br />appropriated budget approved by the City Council. The level of budgetary control is established by <br />function and activity within each fund. <br />D. Federal, State and Local Assistance <br />The City receives financial assistance in the form of state and federal programs which vary from <br />year to year. Accordingly, compliance with the Single Audit Act of 1984 and implementing <br />regulations issued by the United States Office of Management and Budget (OMB) Circular A -133 <br />will be required. <br />E. Pension Plan <br />The City is a member of the California Public Employees Retirement System (PERS), an agent <br />multiple - employer public employee retirement system that acts as a common investment and <br />administrative agent for cities and school districts in California. <br />F. Retirement Health Benefits <br />Beside Public Employees Medical & Hospital Care Act contribution, the City entered the <br />Memorandum of Understanding with various employees associations to cover the post <br />employment health benefits. These plans are single - employer defined benefits plans and do not <br />issue separate financial statements <br />G. Long -term Debt <br />The City's long -term debt consists of vested amounts due to employees pursuant to the City's <br />comprehensive annual leave program, long -term capital lease obligations relating to purchase of <br />equipment and buildings, Certificates of Participation and revenues bonds. The Redevelopment <br />Agency has outstanding tax allocation refunding bonds, revenue bonds and long -term loans. The <br />enterprise funds have outstanding Certificates of Participation, revenue bonds and notes payables. <br />H. Risk Management <br />The City is a member of the Big Independent Cities Excess Pool (BICEP), a public entity risk pool <br />and is also a charter member of the Public Entity Property Insurance Program (PEPIP). <br />Treasury/Investment of Funds <br />