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File #: 23-157    Version: 1
Type: Administrative Items Status: Passed
File created: 2/13/2023 In control: City Council/Public Financing Authority
On agenda: 2/21/2023 Final action: 2/21/2023
Title: 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
Attachments: 1. Att 1 FY 2021-22 Annual Comprehensive Financial Report (ACFR), 2. Att 2 Other Auditor Issued Reports, 3. Att 3 Mid Yr 2022-23 Adjmts, 4. Att 4 FY 22-23 Prof Svcs Authority, 5. Att 5 CSG Consultants On Call Plan Check_Amendment 1, 6. Att 6 True North Compliance Amendment 1, 7. Att 7 California Energy Commission Grant APP-22-038, 8. Att 8 City of Huntington Beach Financial Health Indicators Report, 9. Att 9 Financial Update and FY 2022-23 Mid-Year Budget Adjustments Presentation
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:
title
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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