The City of Arroyo Grande received an unqualified (or “clean”) opinion on the City’s financial Audit Report for Fiscal Year ended June 30, 2018.
Moss, Levy & Hartzheim, LLP conducted the annual audit and were retained so the City could have an independent review of internal control and ensure that the resulting financial reports fairly represent the financial position of the City. Receiving an “Unqualified Opinion” is the highest mark that can be received and assures the reader that the information presented in the audit fairly represents the financial position of the City.
Staff presented the Comprehensive Annual Financial Report (CAFR) to the City Council at their December 10th meeting. The CAFR is a more detailed financial report beyond just the basic financial statements. It provides general information of the City; overall financial information of the City which includes the report of the independent auditor, management’s discussion and analysis (a narrative of the City finances), the basic financial statements, required supplementary information and other supplementary schedules and statements; and a broad range of operational, economic, and historical data that provides a context for assessing the City’s economic condition. The City’s CAFR is in compliance with newly effective Government Accounting Standards Board (GASB) pronouncements, as detailed in the Notes to the Financial Statements.
City Manager, Jim Bergman, stated “Receiving an unqualified opinion on the City’s financial report confirms that the City continues to be good stewards of financial resources.”
The audit of financial records for Fiscal Year ended June 30, 2019 is currently underway.
Current and previous year audit reports as well as the staff report regarding the CAFR are available on the City’s website at www.arroyogrande.org.
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Jim Bergman, City Manager Nicole Valentine, Accounting Manager