Condition of All Funds in the City Treasury as of June 30, 2016

The Controller’s Audit Division has completed an audit of cash and investment activities at the Office of Finance. The primary objectives of the audit were:

1. To verify and report on the condition of cash and investments in the City Treasury at June 30, 2016.

2. To determine whether banking activities have incorporated adequate internal controls.

3. To determine whether investment activities complied with the California State Government Code and the City’s Statement of Investment Policy.