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FISCAL YEAR 2022-23 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, 2023 (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 March 18, 2024, and by the City Council on March 19, 2024.
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. Since Measure M was passed as a special tax, 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, 2023. 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, 2023.
Attachment A -Measure M Strong Communities Fund Audit Financial Statements and Independent Auditors’ Report for the Year Ended June 30, 2023