TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Javier Carcamo, Finance Director
PREPARED BY: Jennifer Terry, Finance Manager
SUBJECT:
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Presentation and Review of the City of Murrieta's Fiscal Year 2022/23 Annual Comprehensive Financial Report and Single Audit Report
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RECOMMENDATION
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Receive and file the Fiscal Year 2022/23 Annual Comprehensive Financial and Single Audit Reports.
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PRIOR ACTION/VOTE
On April 18, 2023, the City Council awarded an agreement to Rogers, Anderson, Malody, and Scott, LLP for independent audit services (Vote: 4-0-1)1.
On May 2, 2023, the Fiscal Year 2021/22 Comprehensive Annual Financial Report and Single Audit Report were received and filed with the City Council.
On December 5, 2023, the City Council received year-end pre-audit results as the City Council and Board of Directors, approving appropriations adjustments for carryover of unspent amounts from Fiscal Year 2022/23 to Fiscal Year 2023/24 (Vote: 5-0).
CITY COUNCIL GOAL
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.
BACKGROUND
The City of Murrieta (City) has prepared its Comprehensive Annual Financial Report (Financial Statements) for the Fiscal Year ending June 30, 2023. The independent auditing firm of Rogers, Anderson, Malody, and Scott, LLP (RAMS) has issued an unmodified (clean) opinion on the City's financial statements, indicating they are free from material misstatement and present fairly the financial position and results of operations of the various funds and account groups of the City. The Financial Statements were completed on February 29, 2024.
In addition to the annual independent audit of the City's financial statements, the City is required to complete a Single Audit as a condition of spending federal assistance in excess of $750,000.
As a result of their annual independent audit of the City's financial records an...
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