Title
Fiscal Year (FY) 2022/23 Single Audit Report
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FileID
File ID: 2024-00989
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Location
Location: Citywide.
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Recommendation
Recommendation: Pass a Motion: 1) accepting the (FY) 2022/23 Single Audit Report; and 2) forwarding it to City Council for approval.
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Contact
Contact: Osvaldo Lopez, Finance Manager, (916) 808-4740, olopez@cityofsacramento.org; Peter Coletto, Finance Director, (916) 808-5416, pcoletto@cityofsacramento.org, Department of Finance
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Presenter
Presenter: None.
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Attachments
Attachments:
1-Description/Analysis
2-Single Audit Resolution
3-Exhibit A - Single Audit Report
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Description/Analysis
IssueDetail
Issue Detail: The Single Audit Report for FY2022/23 that ended June 30, 2023 (Exhibit A), was prepared to present the City’s Schedule of Expenditures of Federal Awards (SEFA). The SEFA reports $40.6 million in federal expenditures. As required by federal law, an independent public accounting firm audited the SEFA. The audit contains no findings, and the conclusion of the independent auditor is that the City complied, in all material respects, with program requirements.
PolicyConsiderations
Policy Considerations: This report is required by federal and state law. (Code of Federal Regulations, title 2, section 200.501 et seq., and California Government Code section 12410.5).
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EconomicImpacts
Economic Impacts: None.
Environmental Considerations: California Environmental Quality Act (CEQA): This action is not a project subject to CEQA because it involves only organizational or administrative activities that will not result in direct or indirect physical changes in the environment (CEQA Guidelines §15378(b)(5).
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Sustainability
Sustainability: Not applicable.
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Commission/Committee Action
Commission/Committee Action: None.
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RationaleforRecommendation
Rationale for Recommendation: It is in the best interest of the City to accept the FY2022/23 Single Audit Report and the Management Letter for the following reasons:
• The FY2022/23 Single Audit Report is required by federal and state law.
• Macias, Gini & O’Connell LLP, an independent public accounting firm, has audited the SEFA and rendered an unmodified audit opinion that the information is fairly stated in relation to the City’s audited financial statements. The auditors tested six major federal programs and reported no instances of noncompliance in the FY2022/23 Single Audit Report.
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FinancialConsiderations
Financial Considerations: There are no financial considerations associated with this report.
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LocalBusinessEnterprise
Local Business Enterprise (LBE): Not applicable.
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