REPORT TO THE CITY COUNCIL
January 16, 2020
FROM: CITY OF FRESNO RETIREMENT BOARDS
BY: ROBERT T. THELLER, Retirement Administrator
City of Fresno Retirement Office
SUBJECT
Title
Submission for Informational Purposes of the Comprehensive Annual Financial Reports (CAFR) Regarding the Financial Activities of the City of Fresno Retirement Systems for the Fiscal Year Ending June 30, 2019
Body
RECOMMENDATION
The Retirement Boards have reviewed and approved the attached Comprehensive Annual Financial Reports for the fiscal year ended June 30, 2019 and recommend that the City Council receive and accept the reports for informational purposes.
EXECUTIVE SUMMARY
The Retirement Boards are proud to submit their June 30, 2019 Comprehensive Annual Financial Reports ("CAFR") to the City Council for informational purposes to keep the City Council informed and provide knowledge of the Retirement Systems' activities during the past fiscal year.
BACKGROUND
At their December 11, 2019 Retirement Board meeting, the Boards approved the attached Comprehensive Annual Financial Reports ("CAFR") for the fiscal year ended June 30, 2019. At that meeting, the Boards directed the Retirement Administrator to submit each CAFR to the City Council, Mayor and City Manager and to keep the City informed on the activities of the Retirement Systems.
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Fresno Retirement Systems for each of their Comprehensive Annual Financial Reports for the fiscal year ended June 30, 2018. In order to receive a Certificate of Achievement award, a government must publish an easily readable and efficiently organized comprehensive annual financial report. These reports must satisfy both generally accepted accounting principles and applicable legal requirements.
The two City of Fresno Retirement Boards, which oversee the a...
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