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6.G. - Page 1 of 187 <br />/<�ik <br />Redwood <br />CitylCallifornia <br />Faunded 1867 <br />Ago/ <br />DATE: December 17, 2018 <br />SUBJECT <br />STAFF REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br />Comprehensive Annual Financial Report for Fiscal Year Ended June 30, 2018 <br />RECOMMENDATION <br />By motion, accept the Fiscal Year Ended June 30, 2018 Comprehensive Annual Financial Report. <br />STRATEGIC INITIATIVE <br />Government Operations <br />BACKGROUND <br />The Comprehensive Annual Financial Report (CAFR) summarizes and presents the financial transactions <br />for all funds of the City of Redwood City, including the Successor Agency and the Port of Redwood City, <br />for the fiscal year ended June 30, 2018. The CAFR also presents the financial position of these entities as <br />of June 30, 2018. <br />The financial statements and notes have been prepared in accordance with Governmental Accounting <br />Standards Board standards and guidelines established by the Government Finance Officers Association of <br />the United States and Canada. <br />ANALYSIS <br />On December 3, 2018, the City Council Finance/Audit Sub -Committee met with Ahmed Badawi of the <br />City's independent audit firm, Badawi & Associates, to review the FY 2017-18 CAFR and the results of the <br />City's audit. The Sub -Committee recommends that the City Council accept the City's Comprehensive <br />Annual Financial Report. <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />180 <br />