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INDEPENDENT ACCOUNTANT’S REPORT ON MEASURE A REVENUES AND EXPENDITURES FOR YEAR ENDED JUNE 30, 2017
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RECOMMENDATION
Information item only. No action required.
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Summary
Consistent with Council action on June 28, 2016, the firm of Eadie and Payne, LLP was contracted to complete the Independent Accountant’s Report on Applying Agreed-Upon Procedures of Measures A and B Revenues and Expenditures. These auditing services are in addition to the Comprehensive Annual Financial Report (CAFR) audit and specific to the Measures A and B Supplemental Display in the CAFR.
The attached report provides detailed procedures that determined that revenues were collected in accordance with Measure A and expenditures were made in accordance with Measure B for the fiscal year ended June 30, 2017. The agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. The report for the fiscal year ended June 30, 2017, was accepted by the Council Audit Committee on February 5, 2018, and by the City Council on February 27, 2018.
DISCUSSION
Background
As a general sales tax, Measure A proceeds are part of the City’s General Fund. The City Charter (sections 1910 and 1911) requires the City to prepare a CAFR and have an annual audit of all City accounts funds which is to be conducted by an independent firm of certified public accountants which are selected using Audit Committee Recommendations and approved by Council. The independent annual audit includes Measure A financial activity and complies with the Measure A ballot language and the Advisory Committee’s charter and by-laws.
In addition to the City’s annual independent audit, upon the recommendation of the Measure A Committee and the Council Audit Committee, the City Council authorized additional audit services with Eadie and Payne, LLP to provide Applying Agreed-Upon Procedures of Measures A and B Revenues and Expenditures. These auditing services were to be in addition to the CAFR audit and specific to the Measures A and B Supplemental Display in the CAFR.
Present Situation
Eadie and Payne applied agreed-upon procedures to the City of Stockton’s Measure A revenues and expenditures. The attached report provides detailed procedures that determined that revenues were collected in accordance with Measure A and expenditures were in accordance with Measure B for the fiscal year ended June 30, 2017. The agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.
Attachment A - Measure A Independent Accountants Report Year Ended June 30, 2017