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Date: To: From: Subject:- January 23.2012 El Cerrito City Council Street Oversight Committee Annual Repott to City Council and· Citizens of El Cerrito· 'Agenda Item No. 4(8) I On this date, the Street Oversight Committee ntet to review· expenditures of revemie collected pursuant to Chapter 4.60 of the El Cenito Municipal· Code to determine whether· such funds we·re expended for· the· pt1rposes specified· in the current Street Repair and Maintenance Expenditure Plan. The expenditures reviewed were t•epotted for Fiscal Yeru· 2010-11, and were summarized in the City•s Annual Audit Report. Further, the Committee J'eviewed the Agt·eed Upon Procedures Report· issued by the City's independent auditors, Maze and Associates, which stated that nothing came to their attention that caused them to believe that the City had failed to comply with the terms, covenants and conditions of the Master Installment Sale Agreement related to the bond issue. The ·Committee also reviewed a detailed list of vendors to whom the · expenditures were made. · By a unanimous vote, the Committee found that the expenditures were ap. appropriate use of the Pothole and Local-street Improvement and Maintenance Ttansactions and Use Tax. The Co1nmittee ~s hereby reporting their findings to the City Council and the citizens of the City of El Cerrito pursuant to Section 2.04.320 C of the· Bl Cerl'ito Municipal Code. AI Miller, Chair, Street Oversight Committee