reojii - granicus

REQUEST FOR

COUNCIL ACTION

CITY COUNCIL MEETING DATE:

18, 2018

TITLE:

RECEIVE AND FILE - FISCAL YEAR 2017-18COMPREHENSIVE ANNUAL FINANCIAL

REPORT, RELATED AUDIT REPORTS, FUND

BALANCE REPORT AND GENERAL FUNDS

CARRYFORWARD

STRATEGIC PLAN NO. 4, 1)

reojIiTY MANAGER

RECOMMENDED ACTION

CLERK OF COUNCIL USE ONLY:

1: 177: t00cs

As Recommended

As Amended

Ordinance on 18' ReadingOrdinance on 2n° ReadingImplementing ResolutionSet Public Hearing For

CONTINUED TO

FILE NUMBER

Receive and file the following items: 1. The Auditor's unmodified " clean" opinion letter for the fiscal year 2017-18 Audited

Financial Statements included in the Comprehensive Annual Financial Report (CAFR)

2. Government Auditing Standards (GAS) Letter3. Audit Committee Letter

4. Air Quality Management District (AQMD) Audited Financial Statements5. The Auditor's report on the Appropriations Limit (GANN Limit)

6. The Auditor's report on compliance with the Statement of Investment Policy7. List of all fund balances prepared by staff8. List of unspent General Fund budget items carried forward from fiscal year 2017- 18 to

fiscal year 2018- 19

DISCUSSION

The Finance and Management Services Agency ( FMSA) — Accounting Division ( AccountingDivision) is the lead on various financial audits and separately issued reports compiled andprepared by the City's Independent Auditor, White Nelson Diehl Evans LLP ( WNDE). Outlined

below is a list of the reports and related status.

AUDITED REPORTS:

Audited Financial Statements - Comprehensive Annual Financial Report for the Fiscal Year Ended

June 30, 2018

Annually, the Accounting Division prepares a CAFR which includes the city's audited financialstatements and statistical information for each fiscal year. The CAFR is prepared in accordance

with Generally Accepted Accounting Principles ( GAAP) along with the reporting requirements setforth by the Governmental Accounting Standards Board ( GASB). The City's independent publicaccounting firm, WNDE, audits the financial statements, reviews other financial items at theCity' s request, and issues reports.

19E- 1

Fiscal Year 2017- 18 Comprehensive Annual Financial ReportDecember 18, 2018

The Accounting Division is pleased to report that the City received a clean opinion, which isconsidered the most favorable conclusion for the Audit. The clean opinion indicates that the

City' s financial statements present fairly, in all material respects, the financial position of the City, changes in financial position, and cash flows for the fiscal year ended June 30, 2018. TheExecutive Director of FMSA is also pleased to report that the Accounting Division staff workeddiligently to issue the CAFR by December 7th, which is an excellent accomplishment for a largeorganization.

The CAFR, which includes the audited financial statements, for the fiscal year -ended June 30, 2018 is posted and available on the City's website ( https:// www.santa-

ana.org/ finance/comprehensive- annual-financial- reports-cafr-and- other-financial- reports) alongwith prior fiscal years. Furthermore, the report was submitted to the Government Finance

Officers Association' s Certificates of Achievement for Excellence in Financial Reporting Program. The award is the highest form of recognition in governmental accounting and financial reporting. In addition, the City has received this prestigious award for forty consecutive years.

Note: Bound copies of the CAFR were provided to City Council separately. An electronic copy isavailable on the City website mentioned above.

In addition to the CAFR, WNDE issued the following communication letters:

Government Auditing Standards ( GAS) Letter

Auditor's communication of reportable conditions based on their review of the City' sinternal controls over financial reporting and on compliance. The results of their reviewdisclosed no instances of noncompliance for the fiscal year 2017- 18.

Audit Committee Letter

Formal communication from the auditor to the City Council, which discloses informationrelated to the audit, including but not limited to the City's accounting practices andimplementation of new accounting rules and estimates.

Audit of the City's Air Quality Management District (AQMD) Financial Statements

Under Assembly Bill 2766 Chapter 1705 [ California Health and Safety Code ( CHSC) Sections44220 through 44247] cities and counties receiving the AB 2766 funds are required to separatelyaccount for the revenue and to expend the revenue for air pollution reduction measures. The

AQMD audit report reflects the City's compliance to such measures.

Staff is pleased to report that the City received a clean opinion on the AQMD audit reportand no compliance findings were noted.

SEPARATELY ISSUED REPORTS:

In addition to the CAFR and the AQMD reports, WNDE performed the following Agreed UponProcedures (AUP) examinations:

Appropriation Limit Calculations, also known as GANN Limit

19E- 2

Fiscal Year 2017- 18December 18, 2018

Comprehensive Annual Financial Report

The GANN limit established the appropriations limit on expenditures for publicly funded programsin accordance with Section 1 of Article XIII of the California Constitution.

Staff is pleased to report that no findings were noted as a result of this AUP Review.

City' s Compliance with the Statement of Investment PolicyThe report on the City' s Investment Policy is elected to be performed by the City to ensurecompliance.

Staff is pleased to report that no findings were noted as a result of this AUP review.

Single Audit— Not Included Herein

The City is also required to have a Single Audit of federal financial assistance by March 31Stfollowing each fiscal year. Staff expects the Single Audit will be issued during February 2019 andwill be presented to the City Council and the public on an agenda shortly thereafter.

List of all Fund Balances

The City uses many funds to account for its financial transactions. Due to the number of funds, many are combined into single columns within the audited financial statements. This practice iscommon amongst cities, accepted by GASB and the auditors, and results in financial statementsthat are easier for the public to read.

In the interest of full disclosure, staff has prepared a list of all individual funds; including the fundname and number, the financial statement column that includes the fund, the fund balance as of

June 30, 2018, and a brief description of the purpose, revenue, and/ or restriction. This list is a

useful tool for the Council and staff to understand what balances may be available for futureinitiatives, and what balances may signal the need for a change in budgeting or accounting.

General Fund Carry Forward Amounts

During and after the close of the fiscal year, the Budget Office received requests viamemorandums from departments to carry forward unspent funds from fiscal year 2017- 18 tofiscal year 2018- 19. The carryforward requests are derived largely because of projects orcontracts not completed prior to June 30, 2018. These carryforward requests are reviewed andincluded in the Assigned Fund Balance classification within the audited financial statements.

This means the amounts carried over to the FY18- 19 budget are not included in theUnassigned/ Undesignated or " Spendable" fund balance at June 30, 2018. Below is the current

list of the General Fund carry forward requests submitted by Departments

FY 17-18 CARRY FORWARDS TO FY 18- 19

Total: 529, 871

19E- 3

AttuDEPT ProreeUProyram11

tin® ACCOUNT AMOUNT

PD Annual Ammo Purchase 01114410 63001 70,000

PD Maintenance of the Police Department' Jail System( 1MS) 01114425 62300 55,000

PWASARTCMaintenance

01117650

01117650

62300

66200

110, 867

178, 125

SMSA ( Safe Transit Stops) 01117620 6620D 19,778PWA

CDA Greater Santa Ana Vitality 01118810 62300 96, 101

Total: 529, 871

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Fiscal Year 2017- 18 Comprehensive Annual Financial ReportDecember 18, 2018

There are carry forwards for many of the restricted funds as well. The fund balances for

restricted funds are already classified as such.

Beginning with the carry forward requests for FY18- 19 to FY19- 20, staff will provide acomprehensive list of all requests, including those for restricted funds, for City Councilconsideration by the close of the books each year. The Executive Director of FMSA will onlyrecommend carry forwards for non- recurring budget items such as construction projects, studies, or one- time initiatives. Carry forwards for recurring budget items to stockpile appropriations willnot be recommended, as the City Council considers adoption of a new budget each year.

STRATEGIC PLAN ALIGNMENT

Approval of this item allows the City to meet Goal # 4 - City Financial Stability, Objective # 1, Maintain a stable, efficient and transparent financial environment).

FISCAL IMPACT

There is no fiscal impact associated with this action.

Kathryn Downs, CPA

Executive Director

Finance and Management Services Agency

Exhibits:

1. Audit Opinion Letter

2. Government Auditing Standards (GAS) Letter3. Audit Committee Letter

4. Air Quality Management District (AQMD) Report5. GANN Limit Agreed -Upon Procedures Report

6. Investment Policy Agreed -Upon Procedures Report7. List of all Fund Balances

19E- 4

INDEPENDENT AUDITORS' REPORT

To the Honorable City Councilof the City of Santa Ana

Santa Ana, California

Report on the Financial Statements

EXHIBIT 1

We have audited the accompanying financial statements of the governmental activities, thebusiness -type activities, each major fund, and the aggregate remaining fund information of the City ofSanta Ana, California ( the City), as of and for the year ended June 30, 2018, and the related notes tothe basic financial statements, which collectively comprise the City' s basic financial statements aslisted in the table of contents.

Management' s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in

accordance with accounting principles generally accepted in the United States of America; thisincludes the design, implementation, and maintenance of internal control relevant to the preparation

and fair presentation of financial statements that are free from material misstatement, whether due to

fraud or error.

Auditors' Responsibility

Our responsibility is to express opinions on these financial statements based on our audit. Weconducted our audit in accordance with auditing standards generally accepted in the United States ofAmerica and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan andperform the audit to obtain reasonable assurance about whether the financial statements are free frommaterial misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures inthe financial statements. The procedures selected depend on the auditors' judgment, including theassessment of the risks of material misstatement of the financial statements, whether due to fraud or

error. In making those risk assessments, the auditors consider internal control relevant to the City' spreparation and fair presentation of the financial statements in order to design audit procedures that are

appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectivenessof the City' s internal control. Accordingly, we express no such opinion. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of significantaccounting estimates made by management, as well as evaluating the overall presentation of thefinancial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for

our audit opinions.

2875 Michelle Drive, Suite 300, Irvine, CA 92606 • Tel: 714.978. 1300 • Fax: 714.978.7893

Qju-es located in ( mrdSn Diego Counties

Opinions

In our opinion, the financial statements referred to above present fairly, in all material respects, therespective financial position of the governmental activities, the business -type activities, each major

fund, and the aggregate remaining fund information of the City, as of June 30, 2018 and the respectivechanges in financial position and, where applicable, cash flows thereof for the year then ended inaccordance with accounting principles generally accepted in the United States of America.

Emphasis of Matter

As discussed in Note IE to the financial statements, the City adopted Governmental AccountingStandards Board' s Statement No. 75, Accounting and Financial Reporting for PostemploymentBenefits Other Than Pensions, which required retrospective application resulting in a reduction ofpreviously reported net position. Our opinions are not modified with respect to this matter.

Other Matters

Report on Required Supplementary Information

Accounting principles generally accepted in the United States of America require that theManagement' s Discussion and Analysis, Budgetary Comparison Schedules - General and Major

Special Revenue Funds, Notes to the Required Supplementary Information, Schedule of Changes inNet Pension Liability and Related Ratios and Schedule of Plan Contributions for the Miscellaneous,

Safety, and Supplementary Retirement Plans, and Schedule of Changes in the Total OPEB Liabilityand Related Ratios, identified as Required Supplementary Information ( RSI) in the accompanyingtable of contents, be presented to supplement the basic financial statements. Such information,

although not a part of the basic financial statements, is required by the Governmental AccountingStandards Board, who considers it to be an essential part of financial reporting for placing the basicfinancial statements in an appropriate operational, economic or historical context. We have applied

certain limited procedures to the RSI in accordance with auditing standards generally accepted in theUnited States ofAmerica, which consisted of inquiries of management about the methods of preparingthe information and comparing the information for consistency with management' s responses to ourinquiries, the basic financial statements, and other knowledge we obtained during the audit of the basicfinancial statements. We do not express an opinion or provide any assurance on the RSI because thelimited procedures do not provide us with sufficient evidence to express an opinion or provide anyassurance.

Other Information

Our audit was conducted for the purpose of forming opinions on the financial statements thatcollectively comprise the City' s basic financial statements. The introductory section, combining andindividual non -major fund financial statements and schedules ( supplementary information), andstatistical section, as listed in the table of contents, are presented for purposes of additional analysisand are not a required part of the basic financial statements.

19E- 6

Other Matters (Continued)

Other Information ( Continued)

The supplementary information, as listed in the table of contents, is the responsibility of managementand was derived from and relates directly to the underlying accounting and other records used toprepare the basic financial statements. Such information has been subjected to the auditing proceduresapplied in the audit of the basic financial statements and certain additional procedures, includingcomparing and reconciling such information directly to the underlying accounting and other recordsused to prepare the basic financial statements or to the basic financial statements themselves, and other

additional procedures in accordance with auditing standards generally accepted in the United States ofAmerica. In our opinion, the supplementary information is fairly stated in all material respects inrelation to the basic financial statements taken as a whole.

The introductory and statistical sections have not been subjected to the auditing procedures applied inthe audit of the basic financial statements and, accordingly, we express no opinion or provide anyassurance on them.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated December 7, 2018, on our consideration of the City' s internal control over financial reporting and on our tests of itscompliance with certain provisions of laws, regulations, contracts and grant agreements and other

matters. The purpose of that report is to describe the scope of our testing of internal control overfinancial reporting and compliance and the results of that testing, and not to provide an opinion on theinternal control over financial reporting or on compliance. That report is an integral part of an auditperformed in accordance with Government Auditing Standards in considering the City' s internalcontrol over financial reporting and compliance.

A " X& IALIf l val d) & P

Irvine, California

December 7, 2018

19E- 7

19E- 8

INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER

FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS

BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED

IN ACCORDANCE WITH G0 VERMWENTAUDITING STANDARDS



We have audited, in accordance with the auditing standards generally accepted in the United States ofAmerica and the standards applicable to financial audits contained in Government Auditing Standardsissued by the Comptroller General of the United States, the financial statements of the governmentalactivities, the business -type activities, each major fund, and the aggregate remaining fund informationof the City of Santa Ana, California ( the City), as of and for the year ended June 30, 2018, and therelated notes to the basic financial statements, which collectively comprise the City' s basic financialstatements and have issued our report thereon dated December 7, 2018.

Internal Control over Financial Reporting

In planning and performing our audit of the financial statements, we considered the City' s internalcontrol over financial reporting ( internal control) to determine the audit procedures that are appropriatein the circumstances for the purpose of expressing our opinions on the financial statements, but not forthe purpose of expressing an opinion on the effectiveness of the City' s internal control. Accordingly, we do not express an opinion on the effectiveness of the City' s internal control.

A deficiency in internal control exists when the design or operation of a control does not allowmanagement or employees, in the normal course of performing their assigned functions, to prevent, ordetect and correct misstatements on a timely basis. A material weakness is a deficiency, or acombination of deficiencies, in internal control such that there is a reasonable possibility that a materialmisstatement of the City' s financial statements will not be prevented, or detected and corrected on atimely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internalcontrol that is less severe than a material weakness, yet important enough to merit attention by thosecharged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this

section and was not designed to identify all deficiencies in internal control that might be materialweaknesses or significant deficiencies. Given these limitations, during our audit we did not identifyany deficiencies in internal control that we consider to be material weaknesses. However, materialweaknesses may exist that have not been identified.

1-

2875 Michelle Drive, Suite 300, Irvine, CA 92606 • Tel: 714.978.1300 • Fax: 714.978.7893

Officer located in f9L,d gn Diego Counties

Compliance and Other Matters

As part of obtaining reasonable assurance about whether the City' s financial statements are free frommaterial misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and

material effect on the determination of financial statement amounts. However, providing an opinion oncompliance with those provisions was not an objective of our audit, and accordingly, we do not expresssuch an opinion. The results of our tests disclosed no instances of noncompliance or other matters thatare required to be reported under Government Auditing Standards.

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control andcompliance and the results of that testing, and not to provide an opinion on the effectiveness of theCity' s internal control or on compliance. This report is an integral part of an audit performed inaccordance with Government Auditing Standards in considering the City' s internal control andcompliance. Accordingly, this communication is not suitable for any other purpose.

Irvine, California

December 7 , 2018

2-

19E- 10



EXHIBIT 3

We have audited the financial statements of the governmental activities, business -type activities, each

major fund, and aggregate remaining fund information of the City of Santa Ana, California ( the City) for the year ended June 30, 2018. Professional standards require that we provide you with information

about our responsibilities under generally accepted auditing standards and Government AuditingStandards as well as certain information related to the planned scope and timing of our audit. We havecommunicated such information in our planning letter to you dated July 23, 2018. Professionalstandards also require that we communicate to you the following information related to our audit.

Significant Audit Findings

Qualitative Aspects ofAccounting Practices

Management is responsible for the selection and use of appropriate accounting policies. The significant

accounting policies used by the City are described in Note 1 to the financial statements. As discussedin Note IE to the financial statements, in fiscal year 2017-2018, the City implemented GovernmentalAccounting Standards Board ( GASB) Statement No. 75, Accounting and Financial Reporting forPostemployment Benefits Other Than Pensions. The adoption of this standard required retrospective

application resulting in a reduction of previously reported net position. No other accounting policieswere adopted and the application of other existing policies was not changed during the year endedJune 30, 2018. We noted no transactions entered into by the City during the year for which there is alack of authoritative guidance or consensus. All significant transactions have been recognized in the

financial statements in the proper period.

Accounting estimates are an integral part of the financial statements prepared by management and arebased on management' s knowledge and experience about past and current events and assumptions

about future events. Certain accounting estimates are particularly sensitive because of theirsignificance to the financial statements and because of the possibility that future events affecting themmay differ significantly from those expected.

The most sensitive estimates affecting the City' s financial statements were as follows:

a. Management' s estimate of the fair market value of investments is based on

quoted prices in an active market. When quoted prices in active markets are not

available, fair values are based on evaluated prices received by the City' s brokeror custodian.

1-

2875 Michelle Drive, Suite 300, Irvine, CA 92606 • Tet• 714.978. 1300 • Fax: 714.978.7893

Offtres located nirDSpeadf&I Diego Counties

Significant Audit Findings (Continued)

Qualitative Aspects ofAccounting Practices ( Continued)

b. Management' s estimate of the value of capital assets ( infrastructure assets) isbased on industry standards.

c. The estimated useful lives of capital assets for depreciation purposes are basedon industry standards.

d. The annual required contributions, pension expense, net pension liability andcorresponding deferred outflows of resources and deferred inflows of resourcesfor the City' s public defined benefit plans with CalPERS and PARS are based onactuarial valuations provided by CalPERS and an outside consultant, respectively.

e. The Other Post -Employment Benefit Plan ( OPEB) expense, total OPEB liability, and corresponding deferred outflows of resources and deferred inflows ofresources for the City' s OPEB plan are based several key assumptions that areset by management with the assistance of an independent third party actuary. These key assumptions include anticipated investment rate of return, health carecost trends, mortality and certain amortization periods.

f. Management' s estimate of the claims payable liabilities related to general

liability and worker' s compensation claims are based on actuarial valuations.

We evaluated the key factors and assumptions used to develop these estimates in determining that theywere reasonable in relation to the financial statements taken as a whole.

Certain financial statement disclosures are particularly sensitive because of their significance tofinancial statement users. The most sensitive disclosures affecting the financial statements werereported in Note IE regarding the restatement of net position, Note 4E regarding the CalPERS definedbenefit plans, Note 4F regarding the PARS supplementary retirement plan, and Note 4G regarding theCity' s OPEB plan.

The financial statement disclosures are neutral, consistent, and clear.

Difficulties Encountered in Performing the Audit

We encountered no significant difficulties in dealing with management in performing and completingour audit.

Corrected and Uncorrected Misstatements

Professional standards require us to accumulate all known and likely misstatements identified duringthe audit, other than those that are clearly trivial, and communicate them to the appropriate level ofmanagement. As a result of our audit related testwork, we proposed no significant corrections to thefinancial statements.

2-

19E- 12

Significant Audit Findings (Continued)

Disagreements with Management

For purposes of this letter, a disagreement with management is a financial accounting, reporting, or

auditing matter, whether or not resolved to our satisfaction, that could be significant to the financialstatements or the auditors' report. We are pleased to report that no such disagreements arose during thecourse of our audit.

Management Representations

We have requested certain representations from management that are included in the managementrepresentation letter dated December 7, 2018.

Management Consultations with Other Independent Accountants

In some cases, management may decide to consult with other accountants about auditing andaccounting matters, similar to obtaining a " second opinion" on certain situations. If a consultationinvolves application of an accounting principle to the City' s financial statements or a determination ofthe type of auditor' s opinion that may be expressed on those statements, our professional standardsrequire the consulting accountant to check with us to determine that the consultant has all the relevantfacts. To our knowledge, there were no such consultations with other accountants.

Other Audit Findings or issues

We generally discuss a variety of matters, including the application of accounting principles andauditing standards, with management each year prior to retention as the City' s auditors. However, these discussions occurred in the normal course of our professional relationship and our responseswere not a condition to our retention.

Other Matters

We applied certain limited procedures to the Management' s Discussion and Analysis, BudgetaryComparison Schedules - General and Major Special Revenue Funds, Notes to the Required

Supplementary Information, Schedule of Changes in Net Pension Liability and Related Ratios andSchedule of Plan Contributions for the Miscellaneous, Safety, and Supplementary Retirement Plans, and Schedule of Changes in the Total OPEB Liability and Related Ratios, which are requiredsupplementary information (RSI) that supplements the financial statements. Our procedures consistedof inquiries of management regarding the methods of preparing the information and comparing theinformation for consistency with management' s responses to our inquiries, the basic financialstatements, and other knowledge we obtained during our audit of the basic financial statements. Wedid not audit the RSI and do not express an opinion or provide any assurance on the RSI.

3-

19E- 13

Other Matters (Continued)

We were engaged to report on the combining and individual non -major fund financial statements andschedules ( supplementary information), which accompany the financial statements but are not RSI. With respect to this supplementary information, we made certain inquiries of management andevaluated the form, content, and methods of preparing the information to determine that theinformation complies with accounting principles generally accepted in the United States of America, the method of preparing it has not changed from the prior period, and the information is appropriateand complete in relation to our audit of the financial statements. We compared and reconciled thesupplementary information to the underlying accounting records used to prepare the financialstatements or to the financial statements themselves.

We were not engaged to report on the introductory and statistical sections, which accompany thefinancial statements but are not RSI. We did not audit or perform other procedures on this otherinformation and we do not express an opinion or provide any assurance.

Upcoming Changes in Accounting Standards and Regulatory Updates

Procurement Rules under Uniform Guidance

The Uniform Guidance has different procurement rules than those previously required by theCircular A- 133. Due to the work required by nonfederal entities to implement these new rules, a two- year grace period was given. In May 2018, an additional one-year grace period was given. BeginningJuly 1, 2018, nonfederal entities will be required to comply with all of the Uniform Guidanceprocurement rules. Included in these new rules is the requirement for written policies and procedures.

Commencing with the fiscal year 2018- 2019 audits, auditors will request the written policies of thenonfederal entity for all single audits and reviewing the procurement policies and procedures forcompliance with the Uniform Guidance procurement rules.

Restriction on Use

This information is intended solely for the information and use of City Council and management of theCity, and is not intended to be, and should not be, used by anyone other than these specified parties.

Irvine, California

December 7, 2018

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19E- 14

EXHIBIT 4

CITY OF SANTAANA, CALIFORNIA

AIR QUALITY IMPROVEMENT SPECIAL REVENUE FUND

FINANCIAL STATEMENTS

WITH REPORT ON AUDIT

BYINDEPENDENT

PUBLIC ACCOUNTANTS

FOR THE YEAR ENDED NNE 30, 2018

19E- 15

CITY OF SANTA ANA, CALIFORNIA


TABLE OF CONTENTS

For the year ended June 30, 2018

Page

Number

Independent Auditors' Report

Financial Statements:

Balance Sheet

Statement of Revenues, Expenditures and Changes in Fund Balance

Notes to Financial Statements

Required Supplementary Information: 10

Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual I 1

Independent Auditors' Report on Internal Control over Financial

Reporting and on Compliance and Other Matters Based on anAudit of Financial Statements Performed in Accordance with

Government Auditing Standards

19E- 16

12

INDEPENDENT AUDITORS' REPORT

The Honorable Mayor and

Members of the City Councilof the City of Santa Ana


Report on the Financial Statements

We have audited the accompanying financial statements of the Air Quality Improvement SpecialRevenue Fund (AQMD) of the City of Santa Ana, California ( the City), as of and for the year endedJune 30, 2018, and the related notes to the financial statements, as listed in the table of contents.

Management' s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in

accordance with accounting principles generally accepted in the United States of America; thisincludes the design, implementation, and maintenance of internal control relevant to the preparationand fair presentation of financial statements that are free from material misstatement, whether due tofraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. Weconducted our audit in accordance with auditing standards generally accepted in the United States ofAmerica and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan andperform the audit to obtain reasonable assurance about whether the financial statements are free frommaterial misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures inthe financial statements. The procedures selected depend on the auditors' judgment, including theassessment of the risks of material misstatement of the financial statements, whether due to fraud or

error. In making those risk assessments, the auditors consider internal control relevant to the City' spreparation and fair presentation of the AQMD' s financial statements in order to design audit

procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinionon the effectiveness of the City' s internal control. Accordingly, we express no such opinion. An auditalso includes evaluating the appropriateness of accounting policies used and the reasonableness ofsignificant accounting estimates made by management, as well as evaluating the overall presentation ofthe financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis forour audit opinion.

1-

2875 Michelle Drive, Suite 300, Irvine, CA 92606 • Tel. 714.978. 1300 • Fax: 714.978.7893

Offices located iia.Uf? Diego Counties

Opinion

In our opinion, the financial statements referred to above present fairly, in all material respects, thefinancial position of the Air Quality Improvement Special Revenue Fund of the City of Santa Ana, California as of June 30, 2018, and the changes in financial position thereof for the year then ended in

accordance with accounting principles generally accepted in the United States of America.

Emphasis of Matter

As discussed in Note 1, the financial statements present only the Air Quality Improvement SpecialRevenue Fund and do not purport to, and do not present fairly the financial position of the City ofSanta Ana, California, as of June 30, 2018, and the changes in its financial position for the year then

ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter.

Other Matters

Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the Statement ofRevenues, Expenditures and Changes in Fund Balance - Budget and Actual, identified as Required

Supplementary Information ( RSI) in the accompanying table of contents, be presented to supplementthe basic financial statements. Such information, although not a part of the basic financial statements,

is required by the Governmental Accounting Standards Board, who considers it to be an essential partof financial reporting for placing the basic financial statements in an appropriate operational, economicor historical context. We have applied certain limited procedures to the RSI in accordance with

auditing standards generally accepted in the United States of America, which consisted of inquiries ofmanagement about the methods of preparing the information and comparing the information forconsistency with management' s responses to our inquiries, the basic financial statements, and otherknowledge we obtained during the audit of the basic financial statements. We do not express anopinion or provide any assurance on the RSI because the limited procedures do not provide us withsufficient evidence to express an opinion or provide any assurance.

Management has not presented the management' s discussion and analysis that accounting principlesgenerally accepted in the United States of America require to be presented to supplement the basicfinancial statements. Such missing information, although not a part of the basic financial statements, isrequired by the Governmental Accounting Standards Board, who considers it to be an essential part offinancial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the AQMD' s basic financial statements is not affected by thismissing information.

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19E- 18

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated December 7, 2018, on our consideration of the internal control over the financial reporting of the AQMD and on ourtests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and

other matters. The purpose of that report is to describe the scope of our testing of internal control overfinancial reporting and compliance and the results of that testing, and not to provide an opinion oninternal control over financial reporting or on compliance. That report is an integral part of an auditperformed in accordance with Government Auditing Standards in considering the internal control overthe financial reporting and compliance of the AQMD.

4nj ,;. Vey o

Irvine, California

December 7, 2018

3-

19E- 19


AIR QUALITY IMPROVEMENT FUND

BALANCE SHEET

June 30, 2018

ASSETS:

Cash and investments

Intergovernmental receivable

Interest receivable

TOTAL ASSETS

LIABILITIES, DEFERRED INFLOWS OF RESOURCES,

AND FUND BALANCE:

LIABILITIES:

Accounts payable

DEFERRED INFLOWS OF RESOURCES:

Unavailable revenues

FUND BALANCE:

Restricted for air quality improvement

TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCE

See accompanying notes to financial statements.

19E- 20

1, 103, 472

112, 379

4, 144

1, 219, 995

6,055

1, 741

1, 212, 199

1, 219, 995



STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCE


REVENUES:

Motor vehicle fees

Investment income

Miscellaneous

TOTAL REVENUES

EXPENDITURES:

Direct program

Administrative

TOTAL EXPENDITURES

EXCESS OF REVENUES

OVER EXPENDITURES

FUND BALANCE, BEGINNING OF YEAR

FUND BALANCE, END OF YEAR

See accompanying notes to financial statements. 5-

19E- 21

436,605

15, 516

2,255

454,376

451, 905

3, 700

455,605

1, 229)

1, 213,428

1, 212, 199



NOTES TO FINANCIAL STATEMENTS

June 30, 2018

1. GENERAL:

The financial statements are intended to reflect the financial position and changes in the financialposition attributable to the Air Quality Improvement Special Revenue Fund (AQMD) of the City ofSanta Ana, California ( the City). These financial statements are exclusively for AQMD and do notpurport to, and do not present fairly the financial position and changes in the financial position forthe City.

The South Coast Air Quality Management District ( SCAQMD) is authorized under AssemblyBill 2766 (AB 2766) Chapter 1705 [ California Health and Safety Code ( CHSC) Sections 44220through 442471 to impose a motor vehicle registration fee to be used by the SCAQMD and localgovernments specifically for programs to reduce air pollution from mobile sources and relatedplanning, monitoring, enforcement, and technical studies necessary for the implementation of theCalifornia Clean Air Act of 1988.

The California Department of Motor Vehicles collects the vehicle registration fee and subvenes itto SCAQMD. Upon receipt, the vehicle registration fee is split into segments with 40% of the

revenue place in a special revenue fund designated as the Air Quality Improvement Trust Fund forquarterly distribution to local governments.

CHSC Section 44243 requires cities and counties receiving the AB 2766 funds to separatelyaccount for the revenues and to expend the revenues for air pollution reduction measures pursuant

to the California Clean Air Act of 1988 or the SCAQMD's Air Quality Management Plan pursuantto Article 5 of Chapter 5. 5 of Part 3 of the CHSC.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

A. Fund Accounting:

The financial activity of the City is accounted for on the basis of funds, each of which isconsidered a separate accounting entity with a self -balancing set of accounts. Monies underAB 2766 are accounted for in the Air Quality Improvement Special Revenue Fund, which is aspecial revenue fund.

B. Measurement Focus and Basis of Accounting:

The accounting and financial reporting treatment is determined by the applicable measurementfocus and basis of accounting. Measurement focus indicates the type of resources beingmeasured such as current financial resources or economic resources. The basis of accountingindicates the timing of transactions or events for recognition in the financial statements.

6-

19E- 22



NOTES TO FINANCIAL STATEMENTS ( CONTINUED)

June 30, 2018

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ( CONTINUED):

B. Measurement Focus and Basis of Accounting (Continued):

AQMD' s financial statements are reported using the current financial resources measurementfocus and the modified accrual basis of accounting. Revenues are recognized as soon as theyare both measurable and available. Revenues are considered to be available when they are

collectible within the current period or soon enough thereafter to pay liabilities of the currentperiod. For this purpose, the government considers revenues to be available if they are collectedwithin 60 days of the end of the current fiscal period. Expenditures generally are recorded whena liability is incurred, as under accrual accounting.

C. Budgetary Accounting:

The City' s fiscal year begins on July 1 of each year and ends June 30 the following year. On orbefore the fifteenth of June of each year, the City Manager recommends and submits to the CityCouncil a proposed budget for the next ensuing fiscal year based on a detailed financial planprepared by the heads of the various offices, agencies and departments of the City and itscomponent units. Upon receipt of the proposed budget, the Council holds a public hearingwherein the public is given an opportunity to be heard, after which the Council may make anyrevisions deemed. advisable. After the conclusion of the public hearing,. the Council may makemodifications with the affirmative vote of at least a majority of its members. On or before thethirty- first day of July, the City Council adopts the budget as amended by the affirmative voteof at least a majority of its members. Upon final adoption, the budget is in effect for the ensuingfiscal year and becomes the authority for the various offices, agencies, and departments toexpend subject to controls established by the City Charter. At any meeting after the adoption ofthe budget, the City Council may amend or supplement the budget by affirmative vote of atleast two-thirds of the members so as to authorize the transfer of unused balances appropriated

for one purpose to another purpose, or to appropriate available revenue not included in the

budget. Where appropriations are made to offices, departments, or agencies for more than one

activity or program, " appropriations" are considered in the aggregate with respect to totalexpenditures authorized for that office, department or agency within each fund, limited topurposes for which the revenues of such funds are to be spent. The City Manager is authorizedto make revisions among the items included in such appropriations if, in his opinion, suchrevisions are necessary and proper. Budgetary control exists at the department level. Councilaction is necessary for transfers between departments/ agencies or transfers between funds. During the fiscal year, all budget and supplemental amendments were necessary and made in alegally permissible manner.

7-

19E- 23



NOTES TO FINANCIAL STATEMENTS (CONTINUED)

June 30, 2018

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):

C. Budgetary Accounting (Continued):

The City legally adopts annual budgets for the Special Revenue Funds including the AirQuality Improvement Special Revenue Fund. The budgetary control for the Special RevenueFunds is under the department in charge. The Air Quality Improvement Special Revenue Fundis managed by the Finance and Management Services Agency. Monthly budgetary reports areprepared to effect control through fiscal management. The City Council approved supplementalappropriations during the year, but they were not considered material.

Budgets are prepared on a modified accrual basis. Encumbrances ( e. g., purchase orders, contracts) outstanding at year-end are reported as restrictions of fund balances since they do notconstitute expenditures or liabilities. All other annual appropriations lapse at fiscal year-end to

the extent that they have not been expended or lawfully encumbered. During the fiscal year, thetotal Fund' s expenditures were within the legal prescribed limits as approved by the CityCouncil.

D. Deferred inflows of resources:

In addition to liabilities, the balance sheet will sometimes report a separate section for deferred

inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of fund balance that applies to a future period and will not be

recognized as an inflow of resources ( revenue) until that time. The AQMD fund has one item

that qualifies for reporting in this category, which is unavailable revenues from interestreceivable. These amounts are deferred and recognized as an inflow of resources in the period

that the amounts become available.

E. Fund Balance:

AQMD' s fund balance is reported based on the extent to which the City is bound to observeconstraints on the use of the AQMD' s resources. AQMD' s fund balance is classified under

restricted, which include amounts which are constrained for specific purposes that are

1) externally imposed by creditors, grantors, contributors, or laws or regulations of othergovernments or 2) imposed by law through enabling legislation. AQMD' s fund balance isrestricted for programs initiated for the purpose of implementing the California Clean Air Act. Information regarding the fund balance reporting policy adopted by the City is described inNote 1 to the City of Santa Ana' s Comprehensive Annual Financial Report.

8-

19E- 24

CITY OF SANTAANA, CALIFORNIA


NOTES TO FINANCIAL STATEMENTS ( CONTINUED)

June 30, 2018

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ( CONTINUED):

F. Estimates:

The preparation of financial statements in accordance with accounting principles generallyaccepted in the United States of America requires management to make estimates and

assumptions that effect certain reported amounts and disclosures. Accordingly, actual resultscould differ from those estimates.

3. CASH AND INVESTMENTS:

AQMD' s cash and investments balances are pooled with various other City funds for deposit andinvestment purposes. Each fund' s share of the pooled cash account is separately accounted for, andinvestment income is apportioned to the participating funds based on the relationship of theiraverage daily balances to the total of the pooled cash and investments. Information regarding thecredit risk and authorized types of deposits and investments in the City' s pooled cash andinvestments is included in the City' s Comprehensive Annual Financial Report. This report can beobtained from the City of Santa Ana.

4. AB 2766 BIENNIAL AUDIT AND QUESTIONED COSTS:

Health and Safety Code Section 44244. 1 stipulate that each recipient of AB 2766 funds be subjectto an audit at least once every two years by an independent auditor selected by the SCAQMD. Themost recent AB 2766 audit resulted in no questioned costs.

5. SUBSEQUENT EVENTS:

The City has evaluated events subsequent to June 30, 2018 to assess the need for potentialrecognition or disclosure in the financial statements. Such events were evaluated through

December 7, 2018, the date the financial statements were available to be issued. Based upon this

evaluation, it was determined that no subsequent events occurred that require recognition or

additional disclosure in the notes to financial statements.

9-

19E- 25

REQUIRED SUPPLEMENTARY INFORMATION

10-

19E- 26



STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCE - BUDGET AND ACTUAL


REVENUES:

Motor vehicle fees

Investment income

Miscellaneous

TOTAL REVENUES

EXPENDITURES:

Direct program

Administrative

WiYY:7As1'440Z11• 1014M

EXCESS OF REVENUES

OVER EXPENDITURES

FUND BALANCE, BEGINNING OF YEAR

FUND BALANCE, END OF YEAR 285, 953 $ 185, 981 $ 1, 212, 199 $ 1, 026, 218

See accompanying notes to financial statements. II-

19E- 27

Variance with

Final Budget

Budgeted Amounts Positive

Original Final Actual Negative)

1, 139, 500 1, 139, 500 436, 605 702,895)

5, 000 5, 000 15, 516 10,516

1, 850 1, 850 2,255 405

1, 146, 350 1, 146, 350 454,376 691, 974)

2,052,310 2, 152, 282 451, 905 1, 700,377

21, 515 21, 515 3, 700 17,815

2,073, 825 2, 173, 797 455, 605 1, 718, 192

927,475) 1, 027,447) 1, 229) 1, 026, 218

1, 213, 428 1, 213, 428 1, 213, 428

285, 953 $ 185, 981 $ 1, 212, 199 $ 1, 026, 218

See accompanying notes to financial statements. II-

19E- 27

INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL

OVER FINANCIAL REPORTING AND ON COMPLIANCE AND

OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS

PERFORMED IN ACCORDANCE WITH GOVERNMENTAUDITING STANDARDS

The Honorable Mayor and



We have audited, in accordance with the auditing standards generally accepted in the United States ofAmerica and the standards applicable to financial audits contained in Government Auditing Standardsissued by the Comptroller General of the United States, the financial statements of the Air QualityImprovement Fund ( AQMD) of the City of Santa Ana, California ( the City), as of and for the yearended June 30, 2018, and the related notes to financial statements, which collectively comprise theAQMD' s basic financial statements, and have issued our report thereon dated December 7, 2018. Our

report includes an emphasis of matter indicating that the financial statements present only the AQMD, and do not purport to, and do not, present fairly the financial position of the City as of June 30, 2018and the changes in its financial position for the year then ended, in accordance with accountingprinciples generally accepted in the United States of America.

Internal Control over Financial Reporting

In planning and performing our audit, we considered the City' s internal control over financial reportingof the AQMD ( internal control) to determine the audit procedures that are appropriate in the

circumstances for the purpose of expressing our opinion on the financial statements, but not for thepurpose of expressing an opinion on the effectiveness of the City' s internal control. Accordingly, wedo not express an opinion on the effectiveness of the City' s internal control.

A deficiency in internal control exists when the design or operation of a control does not allowmanagement or employees, in the normal course of performing their assigned functions, to prevent, ordetect and correct, misstatements on a timely basis. A material weakness is a deficiency, or acombination of deficiencies, in internal control, such that there is a reasonable possibility that amaterial misstatement of the AQMD' s financial statements will not be prevented, or detected and

corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention

by those charged with governance.

12-

2875 Michelle Drive, Suite 300, Irvine, CA 92606 • Tel: 714.978.1300 • Fax: 714.978.7893

Offices located in,0geoSd,flDiego Counties

Internal Control over Financial Reporting (Continued)

Our consideration of internal control was for the limited purpose described in the first paragraph of this

section and was not designed to identify all deficiencies in internal control that might be materialweaknesses or, significant deficiencies. Given these limitations, during our audit we did not identifyany deficiencies in internal control that we consider to be material weaknesses. However, materialweaknesses may exist that have not been identified.

Compliance and Other Matters

As part of obtaining reasonable assurance about whether the Air Quality Improvement SpecialRevenue Fund of the City of Santa Ana, California' s financial statements are free from materialmisstatement, we performed tests of its compliance with applicable provisions of Assembly Bill 2766AB2766), Chapter 1705 ( Health and Safety Code Sections 44220 through 44247), and certain

provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could havea direct and material effect on the determination of the AQMD' s financial statement amounts.

However, providing an opinion on compliance with those provisions was not an objective of our auditand, accordingly, we do not express such an opinion. The results of our tests disclosed no instances ofnoncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control andcompliance and the results of that testing, and not to provide an opinion on the effectiveness of theCity' s internal control or on compliance. This report is an integral part of an audit performed inaccordance with Government Auditing Standards in considering the City' s internal control andcompliance. Accordingly, this communication is not suitable for any other purpose.

Irvine, California

December 7, 2018

13-

19E- 29

19E- 30

EXHIBIT 5


APPROPRIATIONS LIMIT WORKSHEET NO. 6

WITH INDEPENDENT ACCOUNTANTS' REPORT

ON AGREED- UPON PROCEDURES

APPLIED TO APPROPRIATIONS LIMIT WORKSHEET NO. 6

FOR THE YEAR ENDED JUNE 30, 2018

19E- 31

INDEPENDENT ACCOUNTANTS' REPORT

ON AGREED- UPON PROCEDURES APPLIED

TO APPROPRIATIONS LIMIT WORKSHEET NO. 6

To the Honorable Mayor and



We have performed the procedures enumerated below to the accompanying Appropriations LimitWorksheet No. 6 of the City of Santa Ana, California for the year ended June 30, 2018. Theseprocedures, which were agreed to by the City of Santa Ana, California and the League of CaliforniaCities ( as presented in the League publication entitled " Article XIII -B Appropriations Limit UniformGuidelines") were performed solely to assist the City of Santa Ana, California in meeting therequirements of Section 1. 5 of Article XIIIB of the California Constitution. The City of Santa Ana' smanagement is responsible for the Appropriations Limit Worksheet No. 6.

This agreed-upon procedures engagement was conducted in accordance with attestation standards

established by the American Institute of Certified Public Accountants. The sufficiency of theprocedures is solely the responsibility of those parties specified in this report. Consequently, we makeno representation regarding the sufficiency of the procedures described below either for the purpose forwhich this report has been requested or for any other purpose.

The procedures performed and our findings were as follows:

1. We obtained the completed Worksheet No. 6 for the year ended June 30, 2018, and compared the

limit and annual adjustment factors included in that worksheet to the limit and annual adjustment

factors that were adopted by resolution of the City Council. We also compared the population andinflation options included in the aforementioned worksheet to those that were selected by arecorded vote of the City Council.

No exceptions were noted as a result of our performing this procedure.

2. For the accompanying Appropriations Limit Worksheet No. 6, we added last year' s limit to thetotal adjustments, and compared the resulting amount to this year' s limit. We also recalculated theadjustment factor and the adjustment for inflation and population, and compared the results to theamounts on Worksheet No. 6.


1-

2875 Michelle Drive, Suite 300, Irvine, CA 92606 • Tel: 714.978. 1300 • Fax: 714.978.7893

Officer located ' 119EF1J;<2Diego Counties

3. We compared the prior year appropriations limit presented in the accompanying AppropriationsLimit Worksheet No. 6 to the prior year appropriations limit adopted by the City Council for theprior year.


We were not engaged to, and did not, perform an audit, the objective of which would be the expression

of an opinion on the accompanying Appropriations Limit Worksheet No. 6. Accordingly, we do notexpress such an opinion. Had we performed additional procedures, other matters might have come to

our attention that would have been reported to you. No procedures have been performed with respect

to the determination of the appropriation limit for the base year, as defined by the League publicationentitled "Article XIII -B Appropriations Limit Uniform Guidelines."

This report is intended solely for the information and use of the City Council and management of theCity of Santa Ana, California and is not intended to be, and should not be, used by anyone other thanthese specified parties.

Irvine, California

December 7, 2018

A;,I& aJ Z/ -",g

2-

19E- 33

CITY OF SANTA ANA

APPROPRIATIONS LIMIT WORKSHEET NO. 6


Appropriations limit for fiscal year ended June 30, 2017 ( see Note 2)

Adjustment factors for the fiscal year ended June 30, 2018 ( see Note 2):

Inflation

Factor

Note 3)

1. 0369

Population

Factor

Note 4)

1. 0069

Adjustment for inflation and population

Other adjustments ( Note 5)

Total adjustments

Appropriations limit for fiscal year ended June 30, 2018

Combined

Factor

1. 0441

See accompanying notes to Appropriations Limit Worksheet No. 6.

3-

19E- 34

997,277,479

x 0. 0441

43, 979, 937

43, 979, 937

1. 041. 257.416

CITY OF SANTA ANA

NOTES TO APPROPRIATIONS LIMIT WORKSHEET NO. 6


1. PURPOSE OF LIMITED PROCEDURES REVIEW:

Under Article XIIIB of the California Constitution ( the Gann Spending Limitation Initiative), California governmental agencies are restricted as to the amount of annual appropriations from

proceeds of taxes. Effective for years beginning on or after July 1, 1990, under Section 1. 5 ofArticle XIIIB, the annual calculation of the appropriations limit is subject to a limited proceduresreview in connection with the annual audit.

2. METHOD OF CALCULATION:

Under Section 10. 5 of Article XIIIB, for fiscal years beginning on or after July 1, 1990, theappropriations limit is required to be calculated based on the limit for the fiscal year 1986-87, adjusted for the inflation and population factors discussed at Notes 3 and 4 below.

3. INFLATION FACTORS:

A California governmental agency may adjust its appropriations limit by either the annualpercentage change in the 41h quarter per capita personal income (which percentages are supplied bythe State Department of Finance), or the percentage change in the local assessment roll from the

preceding year due to the change of local nonresidential construction. The factor adopted by theCity of Santa Ana, California (the City) for fiscal year 2017- 2018 represents the annual percentagechange in the 4'h quarter for per capita personal income.

4. POPULATION FACTORS:

A California governmental agency may adjust its appropriations limit by either the annualpercentage change of the jurisdiction' s own population, or the annual percentage change in

population in the County where the jurisdiction is located. The factor adopted by the City for fiscalyear 2017- 2018 represents the annual percentage change in population in the County in which the

City is located.

5. OTHER ADJUSTMENTS:

A California government agency may be required to adjust its appropriations limit when certainevents occur, such as the transfer of responsibility for municipal services to, or from, anothergovernment agency or private entity. The City had no such adjustments for the year endedJune 30, 2018.

4-

19E- 35

19E- 36

INDEPENDENT ACCOUNTANTS' REPORT

ON APPLYING AGREED-UPON PROCEDURES



EXHIBIT 6

We have performed the procedures enumerated below, which were agreed to by the City of Santa Ana, California (the City), solely to assist the City in determining whether the City' s investment activitiesare in compliance with the City' s Statement of Investment Policy ( the Policy) and the CaliforniaGovernment Code, § 53600, et al. ( the Code) for the quarter ended June 30, 2018. The City' smanagement is responsible for the compliance with the Policy and the Code and for selecting thecriteria and determining that such criteria are appropriate for your purposes.

This agreed-upon procedures engagement was conducted in accordance with attestation standards

established by the American Institute of Certified Public Accountants. The sufficiency of theseprocedures is solely the responsibility of the City' s management. Consequently, we make norepresentation regarding the sufficiency of the procedures described below either for the purpose forwhich this report has been requested or for any other purpose.

Our procedures and findings were as follows:

1. We obtained a copy of the City' s Quarterly Investment Report for the quarter ended June 2018and compared the investments listed in the report to the types of investments authorized by thePolicy for fiscal year 2017/ 2018.

Finding: No exceptions were noted as a result of our performing this procedure.

2. We compared the investments listed on the City' s Quarterly Investment Report for the quarterended June 2018 to the type of investments authorized by the Code.


3. We ensured that the maturities of investments listed in the City' s Quarterly Investment Reportfor the quarter ended June 2018 were in compliance with the Policy.


1-

2875 Michelle Drive, Suite 300, Irvine, CA 92606 • Teh 714. 978. 1300 • Far.: 714.978.7893

Offices located iii() eyV Diego Counties

4. We reviewed the City' s Quarterly Investment Report for the quarter ended June 2018 toascertain it contained the information/data required by Government Code Section 53646 andmet the timing requirements of Government Code Section 53646, as follows:

a. Included the type of investment, issuer, date of maturity, par and dollar amount invested onall securities, investments and monies held by the City.

b. Included those funds under management of contracted parties ( fiscal agents, trustees, etc.).

c. Included market value ( and source) as of the date of the report for all securities held by theCity or under management of any outside party that was not also a local agency or the Stateof California Local Agency Investment Fund.

d. Stated compliance ofthe portfolio to the Policy of the City.

e. Included a statement addressing the ability of the City to meet the pool' s expenditurerequirements for the next six months.


5. We compared the investments listed in the City' s Quarterly Investment Report for the quarterended June 2018 to the prohibited investments listed in the Code.


6. We reviewed the City' s Quarterly Investment Report submission evidence documentation forthe quarter ended June 2018 and ascertained whether a quarterly basis report was submittedwithin 30 days following the end of the quarter.


We were not engaged to, and did not, conduct an audit, the objective of which would be the expression

of an opinion on the compliance with the Policy. Accordingly, we do not express such an opinion. Hadwe performed additional procedures, other matters might have come to our attention that would havebeen reported to you.

This report is intended solely for the information and use of the City Council and management of theCity, and is not intended to be, and should not be, used by anyone other than those specified parties.

Irvine, California

December 7, 2018

2-

19E- 38

J

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