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City of San Ramon Annual Audit Report
Posted on 02/05/2019
Audit Article

City of San Ramon Annual Audit Report

All government entities are required to issue annual financial reports prepared in accordance with generally accepted accounting principles (GAAP), so that the financial position and results of operations of each government entity can be publicly available to citizens, legislators, financial institutions, and others interested in such information.

It is also required by the Governmental Accounting Standards Board (GASB) that all government entities provide for and cause to be made an annual audit of the financial affairs and transaction of all funds and activities of a government entity for each fiscal year. It is best practice to retain a qualified outside auditor to conduct an independent review of the financial records and procedures.

Maze and Associates, a firm of licensed certified public accountants, audited the City of San Ramon’s financial statements for fiscal year July 1, 2017 through June 30, 2018.  The goal of the independent audit was to provide reasonable assurance that the financial statements of the City are free of material misstatement. On December 18, 2018, the auditors completed their examination of the City’s financial records and have prepared the City of San Ramon Comprehensive Annual Financial Report (CAFR) for Fiscal Year Ended June 30, 2018. The audit was conducted in accordance with GAAP auditing standards accepted in the United State of America and the standards for financial audits contained in the Government Auditing Standards issued by the Comptroller General of the United States. The audit included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by City management; and evaluating the overall financial statement presentation. The auditors issued an unmodified (clean) opinion, as such the CAFR is fairly stated in all material respects and is in conformity with GAAP. 

The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the City of San Ramon a Certificate of Achievement for Excellence in Financial Reporting for its CAFR for the last fourteen (14) consecutive years. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports. In order to be awarded a Certificate of Achievement, the City must publish an easily readable and efficiently organized CAFR, whose contents conform to program standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements.

Copies of the current CAFR and previous years can be found on the City of San Ramon’s web site at www.sanramon.ca.gov