HomeMy WebLinkAbout0003_4_Financial Reports 2015-16 - Exhibit C Appropriations Limit
INDEPENDENT ACCOUNTANT’S REPORT ON AGREED-UPON PROCEDURES
APPLIED TO APPROPRIATIONS LIMIT WORKSHEETS
City Council
City of Lake Elsinore
Lake Elsinore, California
We have performed the procedures enumerated below to the accompanying Appropriations Limit documents of the City of
Lake Elsinore, California, for the year ended June 30, 2016. These procedures, which were agreed to by the City of Lake
Elsinore, California and the League of California Cities (as presented in the publication entitled Agreed-upon Procedures
Applied to the Appropriations Limitation Prescribed by Article XIIIB of the California Constitution), were performed solely
to assist the City in meeting the requirements of Section 1.5 of Article XIIIB of the California Constitution. The City of Lake
Elsinore’s management is responsible for the Appropriations Limit worksheet. This agreed-upon procedures engagement
was conducted in accordance with attestation standards established by the American Institute of Certified Public
Accountants. The sufficiency of the procedures is solely the responsibility of those parties specified in this report.
Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose
for which this report has been requested or for any other purpose.
The procedures performed and our findings were as follows:
1. We obtained the completed worksheets and compared the limit and annual adjustment factors included in those
worksheets to the limit and annual adjustment factors that were adopted by resolution of the City Council. We also
compared the population and inflation options included in the aforementioned documents to those that were selected by a
recorded vote of the City Council.
Finding: No exceptions were noted as a result of our procedures.
2. For the accompanying Appropriations Limit worksheet, we added last year’s limit to total adjustments and agreed the
resulting amount to this year’s limit.
Finding: No exceptions were noted as a result of our procedures.
3. We agreed the current year information presented in the accompanying Appropriations Limit worksheet to the other
documents referenced in #1 above.
Finding: No exceptions were noted as a result of our procedures.
4. We agreed the prior year appropriations limit presented in the accompanying Appropriations Limit worksheet to the prior
year appropriations limit adopted by the City Council during the prior year.
Finding: No exceptions were noted as a result of our procedures.
We were not engaged to, and did not, conduct an audit, the objective of which would be the expression of an opinion on the
accompanying Appropriations Limit worksheet. Accordingly, we do not express such an opinion. Had we performed
additional procedures, other matters might have come to our attention that would have been reported to you. No procedures
have been performed with respect to the determination of the appropriation limit for the base year, as defined by Article XIIIB
of the California Constitution.
This report is intended solely for the use of the City Council and management of the City of Lake Elsinore, California and is
not intended to be and should not be used by anyone other than these specified parties. However, this report is a matter of
public record and its distribution is not limited.
December 30, 2016
Richard A. Teaman, CPA David M. Ramirez, CPA Javier H. Carrillo, CPA Bryan P. Daugherty, CPA Joshua J. Calhoun, CPA
4201 Brockton Avenue Suite 100 Riverside CA 92501 951.274.9500 TEL 951.274.7828 FAX www.trscpas.com
CITY OF LAKE ELSINORE
APPROPRIATIONS LIMIT COMPUTATION
2015-2016
2015-2016
Per Capital Personal Income Change 3.82%
Population Change
City Population Growth 3.07%
CPI Change Converted to a Ratio 1.0382
Population Change Converted to a Ratio 1.0307
Calculation of Growth Factor 1.0701
2014-2015 Appropriations Limit $ 74,581,324
2015-2016 Appropriations Limit
($74,581,324 x 1.0701) $ 79,809,475