REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Al Zelinka, City Manager
VIA: Sunny Rief, Acting Chief Financial Officer
PREPARED BY: Sunny Rief, Acting Chief Financial Officer
Subject:
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Year-End Audit Results for the FY 2021/22 Annual Comprehensive Financial Report (ACFR), Fiscal Year 2022/23 Mid-Year Budget Adjustments, and Fiscal Year 2022/23 Budget Update and Fiscal Health Report
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Statement of Issue:
Fiscal Year 2022/23 Budget Update and Fiscal Health Report
On January 17, 2023, the City Council approved Mayor Pro Tem Van Der Mark's H-Item request for a comprehensive report on the state of the City's budget and financial health, as well as staffing levels, vacancies, the costs of filling vacancies, and any other aspect of citywide reorganization or planned increase in fiscal responsibility and economic efficiency. This Request for Council Action provides the information requested for City Council's consideration.
Fiscal Year 2021/22 Year-End Audit Results
The City received an Unmodified (Clean) Audit Opinion for the City's Fiscal Year (FY) 2021/22 Annual Comprehensive Financial Report (ACFR), which is the highest audit result attainable. In addition, the Government Finance Officers Association awarded their Certificate of Achievement for Excellence in Financial Reporting to the City for the 36th consecutive year. Included as an attachment is the FY 2021/22 ACFR to receive and file.
Fiscal Year 2022/23 Mid-Year Adjustments
The Finance Department has also performed a mid-year budget review for the fiscal year that began on July 1, 2022. In interfacing with operating departments, budgetary requests have been assessed across all City departments, and certain adjustments are being recommended based on available resources in the General Fund, through grants and/or restricted funds.
Financial Impact:
Fiscal Year 2022/23 Mid-Year Adjustments
1. General Fund (100) budget adjustm...
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