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6.1.G. - Page 8 a difference in managernent rESponse and fiscal health between cities that have reserve policies vs. those that don't? • Da�a Evaluatid� — Is it feasible to coz�pare cities' and the County's data far the same �evel of reserves or ather financial metric and draw concIusions of relative health, or are circumstances sa different or unique to each city to � that impracticaI? This report was compiled fraFn numerous sources: � The prizxzary documents (applicable sections, manage�nent discussions, #�anancial staternez�ts and explanatory notes) reviewed were city and County Compreh�nsive Annual Financial Reports (CAFRs}. These are standard reports prepa�ed £ollowing the guideIines recommended by the Governm�nt �'inance Officers Association af the United States and Camada (GFOA), and the standards adopted by the Gavernrnental Accaunting Standards Board (GASB}. • Responses to a written questionnaire sent to all city Finance Diz or their counterparts, requesting data not available or not found on the public websites, including e�ister�ce {or no�} of governing ordinances and p4licies and forward-laoking data (forecasts). l�Tote: This questiannaire did not go the County becaus� the inforrnation sought was clearly delineat�d in its annual CAFRs. • Ir�terviews cond�ucted with two current city Finance Dir�ctors, a forrner senior County offcial knowledgeable of County finances and Governmental Accounting Standards, and two principals of one of the ]eading indepen�ent auditing �z z for a sigz�z�cant nunnber of 2010 and past CAFRs of San Mateo Caunty cities. The primary purpose of the interviews was to determine where there was reasonable cansensus an key rr�etz for evaluatzng a city's or County's fisca� �ealth, and to understand where those data could be obtained an�/or naw they could be calculated. • Other publzc docurnents found on city and County websites, including Approved Annual Bud�ets (Budgets) and other financial reparts. • O��cia� �ublications such as GASB 3� and GASB 54 were used to research and unaerstand applicable goveraunent accounting standards and published recommendations with respect ta reserves. Note; Drrta used Zo compile this report was provided to �'ity/County Finance offica'als for veri�cation, with requests for publicly available dacument and page number references to enable confirmation. Any errors identified were corrected. In some cases, responses ineluded questions or concerns about the applicability of a speeific data element or methad of calculation, ezther generically or to a city's specific circumstc�nces. Those comments were considered ancl, �vher�e appropriate, specifieally ac�dressed or noted without attributzon in this report. 3