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REVIEW FISCAL YEAR 2016-17 MEASURE M STRONG COMMUNITIES FUND AUDIT
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Information item only.
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Summary
Presented for Committee review is the City of Stockton’s Measure M Strong Communities Fund Audit for the fiscal year ended June 30, 2017 (Attachment A). The City received an unmodified (clean) opinion.
On February 5, 2018, the Council Audit Committee received, reviewed, and took action to accept the audit. On February 27, 2018, City Council also accepted this audit.
DISCUSSION
Stockton’s voters approved Measure M on November 8, 2016, which authorized a one-quarter cent sales tax with the proceeds to be used exclusively for library and recreation services. The City separately accounts for the revenues generated from this sales tax and for the related expenditures. The measure requires an annual audit which was conducted for the first partial fiscal year (April - June 2017) of the tax. 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, 2017.
FINANCIAL SUMMARY
There is no financial impact associated with accepting this item.
Attachment A - 2017 Measure M Strong Communities Fund Audit