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6.C. - Page 1 of 196 <br />/<�ik <br />Redwood <br />CitylCallifornia <br />Faunded 1867 <br />A,&/ <br />DATE: February 22, 2021 <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, 2020 <br />RECOMMENDATION <br />By motion, accept the Comprehensive Annual Financial Report for Fiscal Year ended June 30, 2020. <br />STRATEGIC PLAN GUIDING PRINCIPLE <br />Excellence in 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, 2020. The CAFR also presents the financial position of these entities as <br />of June 30, 2020. The CAFR and the City's operating and capital budgets provide complementary financial <br />information: the CAFR presents financial information at the end of the fiscal year, while the operating and <br />capital budgets present anticipated revenues and expenditures in the future. <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 />Page 1 of 6 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />