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File #: 23-0156    Name: 2022 ACFR
Type: Written Report Status: Agenda Ready
File created: 8/5/2022 In control: City Council Legislative Meeting
On agenda: 11/22/2022 Final action:
Title: Receipt of the Fiscal Year 2022 Annual Comprehensive Financial Report (ACFR).
Attachments: 1. 23-0156_ACFR Draft
City of Alexandria, Virginia
_____________________

MEMORANDUM


DATE: NOVEMBER 15, 2022

TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL

THROUGH: JAMES F. PARAJON, CITY MANAGER /s/

FROM: KENDEL TAYLOR, INTERIM DEPUTY CITY MANAGER

DOCKET TITLE:
TITLE
Receipt of the Fiscal Year 2022 Annual Comprehensive Financial Report (ACFR).
BODY
________________________________________________________________

ISSUE: Consideration is requested of the Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2022.

RECOMMENDATION: That City Council receive the Fiscal Year 2022 Annual Comprehensive Financial Report (Attachment).

DISCUSSION: Code of Virginia ?15.2-2511 requires all local governments to have their accounting books and records audited by an independent certified public accountant as of June 30 of each year. The Code further requires that the independent certified public accountant present a written report to the local governing body at a public session by the following December 31.

The City's Annual Comprehensive Financial Report (ACFR)1 for the fiscal year ended
June 30, 2022, has been completed and has been posted on the City's website at alexandriva.gov/financialreports. This report, which follows a format prescribed by the Governmental Accounting Standards Board (GASB), includes a description of the significant financial events of the fiscal year, the City's audited financial statements, and selected financial and demographic information.

The following are highlights of the report:

The City fully expects to again receive a positive "clean opinion" from its independent certified public accountant firm, CliftonLarsonAllen, LLP, of its financial statements for the fiscal year ended June 30, 2022. The auditors are in the final stages of review and the City expects to receive their opinion prior to the City Council meeting on November 22. Such an unmodified opinion, if received, would indicate that the auditors find the City...

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