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HomeMy WebLinkAboutFin Year-End Audited Financial Statements and Related Audit Reports PPTIndependent Auditor Presentation Audit Results For fiscal year ended June 30, 2023 1 Whitney Crockett, CPA Audit Partner Annual Audit Maze and Associates – we are an independent CPA firm, independent from the City of San Rafael and its component units Audit was conducted in accordance with auditing standards generally accepted in the United States of America and Government Auditing Standards issued by the Comptroller General of the United States of America. 2 We Audit City (Annual Comprehensive Financial Report) Child Development Program Financial Report Single Audit (federal award programs – in process – due by 3/31/24) We also report on Gann Limit Agreed Upon Procedures Report 3 Results of Audit – City’s FS Independent Auditor’s Report (pg 1 of City’s Report) Unmodified/clean opinions…fairly stated, in all material respects…in conformity with accounting principles generally accepted (GAAP) in the USA. Includes Emphasis of a Matter - Change in Accounting Principles Implementation of GASB Statement No. 96, Subscription- Based Information Technology Arrangements 4 Results of Audit – City Management’s Discussion and Analysis (pg 5 of City’s FS) Prepared by Finance Staff Discusses significant activity for the fiscal year 5 Results of Audit – City Memorandum on Internal Control (MOIC) Three possible categories for comments: Material Weakness Significant Deficiency Other Matters 6 Results of Audit – City Required Communications No changes in accounting policies, other than implementation of GASB 96 No unusual transactions Significant accounting estimates No disagreements with management No material adjustments or uncorrected misstatements to report GANN Limit Agreed Upon Procedures Report One exception noted 7 Results of Audit –Childcare Independent Auditor’s Report on FS Unmodified/clean opinion…fairly stated, in all material respects…in conformity with accounting principles generally accepted (GAAP) in the USA. Independent Auditor’s Report on Compliance No current year findings 8 QUESTIONS? 9 “We are in the business to help our clients succeed”