Title:
Title
Fiscal Year 2017/18 Transportation Development Act Fund Audited Financial Statements and Compliance Report
End
FileID
File ID: 2018-01752
Location
Location: Citywide
Recommendation:
Recommendation
Receive and file.
Contact: Osvaldo Lopez, Accounting Manager, (916) 808-4740; Dawn Holm, Director, (916) 808-5574, Department of Finance
Body
Presenter: None
Attachments:
1-Description/Analysis
2-TDA Audited Financials and Independent Auditor's Report
Description/Analysis
Issue Detail: The FY2017/18 Transportation Development Act (TDA) Fund Audited Financial Statements and Compliance Report has been prepared to present the financial results of the TDA Fund for the fiscal year that ended June 30, 2018.
Policy Considerations: This report is consistent with the City’s fiscal transparency and accountability principles and is required by the Sacramento Area Council of Governments (SACOG) for the receipt of funds.
Economic Impacts: None.
Environmental Considerations:
California Environmental Quality Act (CEQA): This recommendation does not constitute a “project” as it involves only organizational or administrative activities that will not result in direct or indirect physical changes in the environment. It is therefore not subject to CEQA. (CEQA Guidelines sections 15061 (b)(1) and 15378(b)(3)).
Sustainability: Not applicable.
Commission/Committee Action: The Fiscal Year 2017/18 Transportation Development Act Fund Audited Financial Statements and Compliance Report was presented to the Budget and Audit Committee on March 5, 2019. The Committee approved a Motion to forward the report to the City Council.
Rationale for Recommendation: It is in the best interest of the City Council to receive and file the FY2017/18 TDA Fund Audited Financial Statements and Compliance Report for the following reasons:
• This report is required by the SACOG, the transportation planning agency administering TDA funds.
• The public accounting firm of Richardson & Company LLP has audited the City’s TDA Fund FY2017/18 financial statements and has rendered its unmodified opinion that the financial statements are fairly presented in accordance with generally accepted accounting principles.
Financial Considerations: There are no financial considerations associated with this report.
Local Business Enterprise (LBE): Not applicable.