Title
Subject: Comprehensive Annual Financial Report (CAFR)
From: Financial Services Agency
Recommendation: Receive an informational report regarding the Fiscal Year 2001-2002 Comprehensive Annual Financial Report (CAFR) and Oakland Redevelopment Agency Financials
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,FFICE CIF THE CIT f CLERK
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CITY OF OAKLAND I - 1
2903 JUN 12 PM 6: 1 1
Agenda Report
TO: Office of the City Manager
ATTN: Robert C. Bobb
FROM: Financial Services Agency
DATE: June 24, 2003
RE: FY 2001-02 Comprehensive Annual Financial Report and Oakland
Redevelopment Agency Financials
SUMMARY
The attached City of Oakland Comprehensive Annual Financial Report (CATR) and Oakland
Redevelopment Agency Financials are herewith presented to the Finance and Management
Committee. The CAFR incorporates the Oakland Municipal Employees' Retirement System
(OMERS), the Police and Fire Retirement System (PFRS), the Oakland Redevelopment Agency
(ORA) and the Port of Oakland financial statements. The City and Agency implemented the
Governmental Accounting Standards Board (GASB) Statements 34, 37 and 38 and
Governmental Accounting Standards Board Interpretation 6. A description of these new
pronouncements be-ins on page 29 of the CA-FR. Also attached are the Management Letter from
the City's outside auditors, KPMG, LLP and the auditor's letter of SAS 61 required
cominunications. The Management Letter notes no material weaknesses in the City's internal
controls and financial operations.
FISCAL IMPACT
This is an informational report only; there is no fiscal impact.
BACKGROUND
The Comprehensive Annual Financial Report is presented in three sections.
The Introductory Section includes information about the organizational structure of the
City, its accounting and budgetary systerns, and its fund structure. This section also has
summarized data reflecting the City;s financial condition, including a...
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