I-1 - Preliminary Official Statement - UR Loan Agreement

APPENDIX C City’s Financial Statement The following are the City’s unaudited financial reports for the fiscal years ended June 30, 2020 and 2021. The financial reports have been prepared on the basis of cash receipts and disbursements, which is a comprehensive basis of accounting other than U.S. generally accepted accounting principles. The City previously was only required to prepare audited financial statements every four years and the last audit was completed for the fiscal year ended June 30, 2019, excerpts of which are also attached. Beginning with fiscal year June 30, 2022, the City will be required to prepare annual audited financial statements. The reader of this Official Statement should be aware that the complete financial statement from previous years may have further data relating to the financial reports presented in the appendix which may provide additional explanation, interpretation or modification of the reports.