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City of Glendale, Arizona June 30, 2021 Audit Presentation June 28, 2022 Financial Statement Audit Requirements 2 •City of Glendale Code Article VI, Section 16. •Arizona Revised Statutes (ARS) 9-481 •Continuing disclosure requirements for bonds issued by the city. •Code of Federal Registers (CFR) 200.501 for non federal entities expending more than $750k of federal funds. Financial Statement Audit 3 •An audit is the process of designing and performing procedures to provide reasonable assurance on management’s assertions •The objective is for the auditor to provide an opinion based on the procedures performed June 30, 2021 4 •Reports Issued –Governance Communication –Annual Comprehensive Financial Report –Single Audit Report –Annual Expenditure Limitation Report –Highway User Revenue Report –Landfill Assurance Report 5 • Governance Communication • Significant estimates: o Fair value of investments o Estimated useful lives of assets o Allowance for uncollectibles o Landfill closure and postclosure care costs o Insurance claims payable o Unfunded pension/OPEB liability • No difficulties encountered • One uncorrected misstatement • One material audit adjustment • No disagreements with management • Obtain management representation • No management consultation with other independent accountants • No significant issues discussed with management June 30, 2021 at a Glance 6 • Annual Comprehensive Financial Report • Unmodified “clean” opinion • Provide an opinion on the basic financial statements • Provide an in-relation-to opinion on the combining and individual fund financial statements and schedules • Provide an in-relation-to opinion on the federal data schedule • Disclaim an opinion on the required supplementary information, introductory, and statistical sections • GFOA Certificate of Excellence – 2020 • Submit 2021 ACFR for GFOA Award Program June 30, 2021 at a Glance 7 • Single Audit Report • Government Auditing Standards Report –One material weakness –We do not provide an opinion on internal controls • Uniform Guidance Report –Unmodified (“clean”) opinion over compliance, no matters of noncompliance or control deficiencies • Total Federal Awards Expended - $34,149,341 • Major Federal Programs Tested: –14.218 Community Development Block Grant –20.FTC Federal Transit Cluster –20.106 Airport Improvement Grant –21.019 Coronavirus Relief Fund –21.023 Emergency Rental Assistance –93.568 Low Income Home Energy Assistance • Total Federal Awards Tested - $19,484,687 • 57% Coverage of Federal Programs Expended June 30, 2021 at a Glance 8 • Annual Expenditure Limitation Report • Highway User Revenue Report • Landfill Assurance Report • Unmodified (“clean”) opinion • Unmodified “clean” opinion • Test a sample of accounts payable and payroll disbursements • Test transfers out of the Highway User Revenue Fund • No opinion is issued • Perform agreed-up procedures and report and findings or variances related to the procedures performed June 30, 2021 at a Glance 9 Dennis J. Osuch, CPA Principal CliftonLarsonAllen Yiann E. Fang, CPA Director CliftonLarsonAllen