City of Santa Clarita

City Council Agenda Item



Department:Administrative ServicesSponsors:

Fiscal Impact


Recommended Action

City Council approve the Comprehensive Annual Financial Report and other related reports for fiscal year ending June 30, 2015.



Background/Alt Actions


The City's independent audit firm, RSM US LLP, has completed the City of Santa Clarita’s (City's) annual audit for fiscal year ending June 30, 2015.  RSM US LLP conducted the audit in accordance with Generally Accepted Auditing Standards, whereby an audit plan was prepared and followed to obtain reasonable assurance the City's financial statements were free from material misstatements.  The audit included a review, on a test basis, of documents supporting the amounts and disclosures in the financial statements.  The audit also included assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. 


The Comprehensive Annual Financial Report (CAFR) reflects the City's strong financial condition with continued growth of the General Fund balance. 


Based on the audit performed, RSM US LLP issued an unmodified "clean" audit opinion letter.  The opinion reflects the best level an organization can receive on its financial statements.  The letter is identified as the "Independent Auditor's Report" in the City's CAFR for fiscal year ending June 30, 2015.


In accordance with Generally Accepted Auditing Standards (AU-C 260), the Auditor’s Communication With Those Charged With Governance, a Report to the Honorable Mayor and Members of the City Council has been prepared by RSM US LLP to provide specific information related to the audit scope and performance.


In addition, the following reports were prepared for the fiscal year ending June 30, 2015, by RSM US LLP


              Appropriations Limit Calculation

              Single Audit Report

              Transit Enterprise Fund of the City of Santa Clarita

              City of Santa Clarita Air Quality Improvement Fund

              Santa Clarita Open Space Preservation District


Copies of the reports were provided to the City Council under a separate memo.




No feasible alternative action has been identified by staff.


Meeting History

Jan 26, 2016 6:00 PM Video City Council Regular Meeting

Addressing the City Council was Alan Ferdman.

City Manager Ken Striplin made comment regarding the audit process.

MOVER:Marsha McLean, Councilmember
SECONDER:Dante Acosta, Mayor Pro Tem
AYES:Dante Acosta, TimBen Boydston, Bob Kellar, Laurene Weste, Marsha McLean