AGENDA TITLE:
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Receive for File the Annual Transportation Development Act and Measure K Funds Non-Transit Purposes and Transit Enterprise Fund Submitted by LSL for FY2022-2023 (FIN)
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MEETING DATE:
April 3, 2024
PREPARED BY:
Melissa Munoz, Accounting Manager
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RECOMMENDED ACTION:
Receive for file the annual Transportation Development Act and Measure K Funds Non-Transit purposes and Transit Enterprise fund submitted by LSL for FY2022-2023.
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BACKGROUND INFORMATION:
The annual audit was conducted to assure the San Joaquin Council of Governments and other interested parties that the Transportation Development Act Fund and Measure K Fund, and the Transit Enterprise Fund financial reports are prepared in accordance with generally accepted accounting principle (GAAP) against loss from unauthorized use or disposition of assets and that the City has complied with all agreements. LSL issued an “unmodified opinion”.
The agreed upon procedures for the above reports, were agreed upon by San Joaquin Council of Governments and LSL and performed solely to assist in meeting the requirements of Section 1.5 of Article XIII-B of the California Constitution. The agreed upon procedures engagements were conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. City’s management is responsible for preparing each of the reports.
The reports will be provided to San Joaquin Council of Governments for their review and evaluation. Copies of the reports are provided to the City Council and are available to the public by contacting the Financial Services Division.
STRATEGIC VISION:
3A. Fiscal Health: Promote City's transparency & fiscal fluency.
FISCAL IMPACT:
No fiscal impact.
FUNDING AVAILABLE:
No funding requested.
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Melissa Munoz
Accounting Manager
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Jeff Berkheimer (for Andrew Keys)
Acting City Manager/Electric Utility Director