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<br />RANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 02/19/2019 <br />AGENDA REPORT AGENDA HEADING: Consent Calendar <br /> <br />AGENDA DESCRIPTION: <br /> <br />Consideration and possible action to receive and file the FY17-18 Comprehensive <br />Annual Financial Report (CAFR) of the City of Rancho Palos Verdes <br /> <br />RECOMMENDED COUNCIL ACTION: <br /> <br />(1) Receive and file the FY17-18 Comprehensive Annual Financial Report (CAFR) of <br />the City of Rancho Palos Verdes and the Statements on Auditing Standards <br />(SAS) 114 Letter from Independent Auditors to Those Charged with Governance. <br /> <br />FISCAL IMPACT: None <br /> <br />Amount Budgeted: $0 <br />Additional Appropriation: N/A <br />Account Number(s): N/A <br /> <br />ORIGINATED BY: Vina Ramos, Accounting Supervisor <br />REVIEWED BY: Deborah Cullen, Director of Finance <br />APPROVED BY: Doug Willmore, City Manager <br /> <br />ATTACHED SUPPORTING DOCUMENTS: <br /> <br />A. FY17-18 Comprehensive Annual Financial Report (CAFR) (page A-1) <br />B. SAS 114 Letter from Independent Auditors to Those Charged With <br />Governance (page B-1) <br /> <br /> <br />BACKGROUND AND DISCUSSION: <br /> <br />The Comprehensive Annual Financial Report (CAFR) provides a narrative overview and <br />analysis of the City’s financial activities for the Fiscal Year ended June 30, 2018. The <br />CAFR is prepared in conformity with generally accepted accounting principles (GAAP) <br />and Governmental Accounting Board (GASB) requirements. Before its issuance, the <br />CAFR is audited by an independent public accounting firm. On December 31, 2018, the <br />City’s auditor, White Nelson Diehl Evans LLP (WNDE), issued an unqualified (clean) <br />opinion of the City’s FY17-18 financial statements. <br /> <br />Overview of the CAFR <br /> <br />The City’s CAFR includes the following major sections and information: <br /> <br />1