To DATE: January 28, 2025
TO: Board of Supervisors
SUBMITTED BY: Oscar Garcia, CPA Auditor-Controller/Treasurer-Tax Collector
SUBJECT: Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2024
RECOMMENDED ACTION(S):
TITLE
Receive and file the County of Fresno Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2024.
REPORT
This item is countywide.
ALTERNATIVE ACTION(S):
There is no viable alternative as the ACFR is submitted in compliance with Government Code Sections 25250 and 25253.
FISCAL IMPACT:
There is no fiscal impact associated with this action.
DISCUSSION:
The County of Fresno's ACFR for the fiscal year ended June 30, 2024, is provided for your Board's review in compliance with Government Code Sections 25250 and 25253.
The ACFR contains the County's basic financial statements, which comprise:
(1) Government-wide financial statements, which are designed to provide readers with a broad overview of the County's finances, in a manner similar to a private-sector business;
(2) Fund financial statements, which present the County's financial activities in a traditional fund format; and
(3) Notes to the basic financial statements.
The basic financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) in the United States.
Our Office's letter of transmittal to your Board and Citizens of the County of Fresno, dated December 27, 2024, accompanies the County of Fresno's ACFR for the fiscal year ended June 30, 2024. The transmittal letter is designed to complement, and should be read in conjunction with, Management's Discussion and Analysis (MD&A), and the included financial statements and financial statement notes. MD&A provides a narrative introduction, overview, and analysis of the financial statements and can be found immediately following the report of the independent auditors.
The ACFR reports (all amounts presented in thousands) a total net positi...
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