Addendum.Receive 2022 ACFR
PREPARED BY: Gitta Ungvari
Finance Director
Reviewed by: Town Manager, Assistant Town Manager, and Town Attorney
110 E. Main Street Los Gatos, CA 95030 ● (408) 354-6832
www.losgatosca.gov
TOWN OF LOS GATOS
COUNCIL AGENDA REPORT
MEETING DATE: 12/20/2022 ITEM NO: 7 ADDENDUM
DATE: December 19, 2022
TO: Mayor and Town Council
FROM: Laurel Prevetti, Town Manager
SUBJECT: Annual Comprehensive Financial Report (ACFR):
a. Receive the Annual Comprehensive Financial Report (ACFR) for the Fiscal
Year Ended June 30, 2022, and
b. Adopt a Resolution Confirming June 30, 2022 Fund Balances in
Accordance Fiscal Year 2021/22 Final Audit and Town Council General
Fund Reserve Policy
REMARKS:
Attachment 4 contains public comment received after the staff posted the staff report and
before 11:00 a.m. on Monday December 19, 2022.
One of the questions raised by the public and Council regarded the timing and the amount of
the second American Rescue Plan Act (ARPA) payment. The second tranche of ARPA funds was
received on July 21, 2022 in the amount $3,614,872.
Attachments previously received with the staff report:
1. Draft Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2022.
2. Fund Balance Resolution Establishing June 30, 2022 Fund Balances
3. Independent Auditor Presentation to the Council Finance Commission
Attachment received with this Addendum:
4. Public Comment