HomeMy WebLinkAboutThe PUN Group Presentation
1
A MEMBER OF Engagement Presented For the Fiscal Year Ended June 30, 2018 A MEMBER OF by:Partner
Presentation to the City CouncilFrances Kuo, CPA, CGMA
February 11, 2019
City of Seal Beach
2
A MEMBER OF
Contents
•••Scope of WorkPension and Other Postemployment Benefits PlansFinancial Overview: Basic Financial Statements
••Required CommunicationsAudit Results
3
A MEMBER OFA MEMBER OF
Scope of Work
4
A MEMBER OF
ended June 30, 2018
Scope of Work
•Audit of the City’s basic financial statements for the year
5
A MEMBER OFA MEMBER OF
Required Communications
6
A MEMBER OF
Pfinancial statements rinciples Generally Accepted in the United States of America
Management Responsibilities
••••••Prepare the Prevent and detect fraudProvide evidence supporting the amounts and disclosures in the Establish and maintain internal controls over financial reportingAdopt sound
accounting policiesFinancial Statements Free of Material MisstatementsFinancial Statements in accordance with Accounting
7
A MEMBER OF
Accepted in the United States of America and Standards applicable to Financial Audits contained in Government Auditing Standards
Auditors’ Responsibilities
•••••Perform the audit in conformity with Auditing Standards Generally Render an audit opinionDetermine fairness presentation of the financial statementsAssess risk of material misstatement
over financial reporting Communication with “Those Charged with Governance”
8
A MEMBER OFA MEMBER OF
Financial Overview: Basic Financial Statements
9
A MEMBER OF
GovernmentAs of June 30, 2018-Wide Summary
City of Seal Beach
10
A MEMBER OF
GovernmentFor the Year Ended June 30, 2018-Wide Summary (Continued)
City of Seal Beach
11
A MEMBER OF
As of June 30, 2018 and 2017General Balance Sheet Fund Summary
City of Seal Beach
12
A MEMBER OF
For the Years Ended June 30, 2018 and 2017Statement of Revenues, Expenditures, and Changes in Fund Balances General Fund Summary
City of Seal Beach
13
A MEMBER OFA MEMBER OF
Pension and Other Postemployment Benefits Plans
14
A MEMBER OF
Measurement Date June 30, 2017Pension Plans
City of Seal Beach
15
A MEMBER OF
Other Postemployment Benefits Measurement Date June 30, 2017Plan
City of Seal Beach
16
A MEMBER OFA MEMBER OF
Audit Results
17
A MEMBER OF
Audit Results
••Unmodified OpinionsOther •••••••Financial Statements are fairly presented in all material respectsNo Consultations with Other AccountantsNo Disagreements with ManagementNo Significant
Difficulties Encountered During AuditDisclosures are properly reflected in the financial statementsEstimates are reasonableSignificant accounting policies have been consistently appliedRequired
Communication
18
A MEMBER OF
Thank You
for allowing The Pun Group, LLPCITY OF SEAL BEACHto provide services to
19
A MEMBER OF
Frances Kuo, CPA, CGMAKen.Pun@PunGroup.comDirectKenneth Pun, CPA, CGMAFrances.Kuo@PunGroup.comDirect+1 949 777 8805+1 949 777 8801
For more information, contact: