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18585 | Mr. Ratto responded that he understood the language is a fairly standard accounting form; the compilation report was requested by Community Development on behalf of the Controller; that he assumed the Controller reviewed the report and is satisfied. Mayor Gilmore stated she shares Vice Mayor Ezzy Ashcraft's unease about the particular statement; stated she is bothered by "management has elected" which is not the standard boiler plate language. Mr. Ratto stated PSBA did not present an audit to the City this year; the audit requirement was waived; the letter is called the accountants compilation report which has been given to the City since his tenure. The City Attorney stated PSBA was not required to complete an audit, which is why there is a compilation report; it is not a gap report and attempts to disclose that the auditor did not go through more rigorous gap accounting. The City Manager stated for the amount of money involved, performing a full-blown audit is not sensible. (13-228) Councilmember Daysog moved approval of continuing the meeting past 11:00 p.m. Councilmember Chen seconded the motion, which carried by unanimous voice vote - 5. Vice Mayor Ezzy Ashcraft stated she was just concerned about one question, she could probably overlook it, but the discrepancies with the two different figures should be explained in the report. Vice Mayor Ezzy Ashcraft moved approval of continuing the item. Councilmember Daysog seconded the motion. Under discussion, Councilmember Tam requested that the Council be specific about what next report should include. Vice Mayor Ezzy Ashcraft stated that she would like the two different line items on page 22 and 26 of Exhibit 4 addressed; the math worked out; requested Mr. Hansson provide an explanation of the figures and the paragraph read. Councilmember Chen suggested that the 2011 compilation report be reviewed to see if it is a standard boiler plate statement. Councilmember Tam stated that she wants to hear from Mr. Hansson about what has been Regular Meeting Alameda City Council 11 May 7, 2013 |