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FISCAL YEAR 2019-20 MEASURE M STRONG COMMUNITIES FUND AUDIT
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Summary
The City of Stockton’s Measure M Strong Communities Fund Audit for the fiscal year ended June 30, 2020 (Attachment A) is presented for the Committee’s review. The City received an unmodified (clean) opinion.
The Measure M Strong Communities Fund Audit was accepted by the Council Audit Committee on December 14, 2020, and by the City Council on December 15, 2020.
DISCUSSION
Measure M, approved by voters on November 8, 2016, authorized Ordinance No. 2016-06-07-1212 that provides for an additional one-quarter cent sales tax with proceeds to be used exclusively for library and recreation services. The City separately accounts for Measure M revenues and related expenditures. The measure requires an annual audit by an independent accounting firm, which was conducted by the Pun Group for the fiscal year ended June 30, 2020. The auditors did not report any findings, and the City received an unmodified (clean) opinion on the financial schedule of revenues, expenditures, and changes in fund balances of the Measure M Fund for the year ended June 30, 2020.
FINANCIAL SUMMARY
There is no financial impact associated with accepting this item.
Attachment A - FY 2019-20 Measure M Strong Communities Tax Fund Audit