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Staff Report
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| Subject: | Accepting and Approving the Audited Financial Statements and Compliance Report for the Transportation Development Act Funds for the Year Ended June 30, 2019
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| | Date: | May 12, 2020 |
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| | Submitted By: | Mary Rister, Finance Manger
Natalya Lakhno, Accountant ll
Kim Sarkovich, ACM/CFO |
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| | Department: | Administrative Services - Finance |
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| | | | | | | | Staff Recommendation: | Adopt a Resolution of the City Council of the City of Rocklin Accepting and Approving the Audited Financial Statements and Compliance Report for the Transportation Development Act Funds for the Year Ended June 30, 2019.
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| | | | | | | | | BACKGROUND: | | The Transportation Development Act of 1971 provides funding sources for public transportation. The Placer County Transportation Planning Agency (PCPTA) administers these funding sources for our region. The funds are allocated to local agencies within the region through a claims process. The Public Utilities Code 99245 requires an independent auditor to audit the financial statements of each agency claiming Transportation Development Act Funds. Richardson and Company are independent auditors hired by the Placer County Transportation Planning Agency to perform the June 30, 2019 audits of the claimant agencies within its purview. The City of Rocklin Transportation Development Act Funds financial statements for June 30, 2019 have been prepared and audited. The financial statements are now presented to the City Council for acceptance and approval.
The auditor’s opined that the financial statements presented fairly, in all material aspects, the financial position of the Transportation Development Act Funds allocated to the City of Rocklin as of June 30, 2019, and the changes in financial position for the year then ended are in accordance with accounting principles generally accepted in the United States of America.
The Financial Statements for the City of Rocklin’s Transportation Development Act Funds for the Year Ended June 30, 2019 were given an unqualified (clean) audit opinion.
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