HomeMy WebLinkAbout01/21/1992, C-2 - COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR FY 1990-91VIIIspilIlI ll�ll� City O f San x.JIS OBISPO MEETING DATE:
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FROM: William C. Statler, Director of Finance l
SUBJECT: COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR FY 1990 -91
CAO RECOMMENDATION
Receive and file the Comprehensive Annual Financial Report for Fiscal Year 1990 -91.
OVERVIEW
The Comprehensive Annual Financial Report (CAFR) has been prepared in order to
present the City's monetary results of operations and financial condition as of June 30,
1991, as well as to provide statistical information of general interest about the San Luis
Obispo- community.
Included in the report document is the transmittal memorandum which provides a
comprehensive analysis of the City's financial position as of June 30, 1991 as well as
summaries of significant City policies and practices. As required by the City Charter, the
financial statements have been audited by an independent certified public accountant
(KPMG Peat Marwick), and their letter expressing an unqualified (favorable) opinion
regarding the City's financial position is als6 included in the report document.
REPORT ORGANIZATION
In accordance with generally accepted accounting principles for state and local governments,
the City's CAFR is organized into three major sections as outlined in the Preface to the
report:
Introduction
The transmittal memorandum and other items of general interest (directory of officials
and advisory bodies, organization chart, and last year's Certificate of Achievement for
Excellence in Financial Reporting) are included in this section.
Financial Reports
This section includes the primary financial statements of the City, and is organized into
three major areas:
■ Auditor's opinion regarding the financial statements.
■ General purpose financial statements, including notes thereto, which summarize the
City's financial position at the fund type level.
■ Supplemental financial statements, which provide financial information for each of
the City's funds and account groups organized by generic fund type: Governmental
Funds (General, Special Revenue, Capital Project, and Debt Service), Enterprise
Funds, Fiduciary Funds, and General Fixed Assets.
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COUNCIL AGENDA REPORT
Statistical Tables
This section provides the following demographic and financial tables which provide current
and historical trend information for the City:
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■ Statistical overview of the City
■ Ten year summary of governmental revenues by source
■ Ten year summary of governmental expenditures by function
■ Ten year summary of tax revenues by source
■ Ten year summary of assessed valuations of taxable properties
■ Ten year summary of property tax rates
■ Ten year summary of property tax levies and collections
Long Term Indebtedness
■ Ten year summary of general obligation bonded debt ratios
■ Legal debt margin as of June 30, 1991
■ Direct and overlapping debt as of June 30, 1991
■ Ten year summary of annual general obligation debt service requirements in relation
to governmental expenditures
Demographics and Economic Base
■ Population and housing summary
■ Major sources of employment as of June 30, 1991
■ Schedule of business tax receipts issued during Fiscal Year 1990 -91
■ Ten year summary of taxable sales and permits by category
■ Ten year summary of building permits and valuations by type
■ Two year summary of principal taxpayers in San Luis Obispo County
■ Ten year summary of bank deposits
■ Summary of municipal services provided by other agencies or private companies
CERTIFICATE OF ACHIEVEMENT
Beginning with Fiscal Year 1983 -84, all of the City's Comprehensive Annual Financial
Reports have received the GFOA's Certificate of Achievement for Excellence in Financial
Reporting, which is the highest form of recognition for excellence in this area of financial
management. The Certificate of Achievement is valid for one year only. We believe that
this year's report continues to conform to the Certificate of Achievement program
standards, and it has been submitted to the GFOA to determine its eligibility for another
certificate.
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NiS COUNCIL AGENDA REPORT
SUMMARY
The Comprehensive Annual Financial Report for Fiscal Year 1990 -91 has been prepared "
in order to present the City's monetary results of operations and financial condition as of
June 30, 1991, as well as to provide statistical information of general interest about the San
Luis Obispo Community. A comprehensive analysis of the City's financial position as of
June 30, 1991 is provided in the transmittal memorandum included in the report document.
ENCLOSURE
Comprehensive Annual Financial Report for Fiscal Year 1990 -91.