Agency Board Receipt and Filing of the State Controller s Report and Related Documents for Fiscal Year 2010/2011 and Transmittal of Such Report to the City Council and State Controller s Office. City of Culver City California Agenda Item Report Meeting Date: 12/05/2011 JOINT CITY COUNCIL/REDEVELOPMENT AGENCY BOARD AGENDA Agency Board Receipt and Filing of the State Controller s Report and Related Documents for Fiscal Year 2010/2011 and Transmittal of Such Report to the City Council and State Controller s Office. Contact Person/Dept.: John Fisanotti Phone Number: (310) 253 5767 Item Number: JC 1 ITEM: Fiscal Impact: Yes No X General Fund: Yes No X Public Hearing: Action Item: Attachments: X Commission Action Required: Yes No X Date: _______________ Public Notification: Meetings and Agendas City Council (12/01/11); Meetings and Agendas Redevelopment Agency (12/01/11) Department Approval: Sol Blumenfeld (11/22/11) City Attorney Approval: Carol Schwab (by H. Baker) (11/28/11) Agency General Counsel Approval: Murray Kane (11/18/11) City Manager/Executive Director Approval: John Nachbar (11/29/11) Chief Financial Officer Approval: Jeff Muir (11/29/11) RECOMMENDATION: Staff recommends that the Redevelopment Agency Board receive and file the Annual State Controller s Report for Fiscal Year 2010/2011 (Annual Report) and transmit the Annual Report to the City Council and the State Controller s Office; AND Staff recommends that the City Council receive and file the Annual Report. BACKGROUND: California Community Redevelopment Law (California Health and Safety Code 33000 et. seq.) requires the Culver City Redevelopment Agency (Agency) to file a report that includes an independent audit financial statements and housing information with the State Controller s Office annually within six months of the end of the Agency s fiscal year. In Culver City that submission deadline is December 31 of each year. The financial audit determines whether the Agency s financial statements have fai...
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