Oxnard Fiscal Policy Task Force Meeting 1-11-2017

By Dan Pinedo & George Miller

The City of Oxnard Fiscal Policy Task Force Committee (Councilman Bryan MacDonald and Councilman Bert Perello), held a meeting on January 11, 2017. The committee took public comments from attendees, and received a Status Update on the Annual Fiscal Audit Process presented by consultants Eden Casareno of Eadie and Payne. The discussion centered on the audit schedule, major achievements of year 2016, major challenges, adjustments, current findings and progress made on addressing the 111 internal control findings in the 2015 audit. Video Time 0:03:20

The committee also received an update on the Internal Audit Request for Proposals Process. Bob Deis presented the rating results from Phase 1, discussed steps for Phase 2, how many firms to interview and the interview format.
Video Time 0:40:20

Oxnard City Treasurer Phillip Molina presented the city’s Investment Policy and Annual Report. Video Time 1:22:40

Chief Financial Officer Jim Throop gave a status update on the FY 2017 Mid-Year Budget and Annual Budget Process.

Event Video by Dan Pinedo

 

Outside auditor Eden Casareno discussed the audit schedule. The CAFR should be issued by month-end, but the single audit and compliance report is not due until February 24. While not as fast as we’d like, it’s  a huge improvement over last year. Entries are still being posted and adjustments are underway.

Bank reconciliations are now done as recently as 9-30-16, still well behind, but again, much better than before. Capital assets and Capital Improvement Plans (CIP) now done for last year.  Eadie+Payne assisted with this. She also noted excessive errors in Accounts Payable and receivable and delinquencies in maintaining clearing accounts. She emphasized that the city needs to get into a more regular routine of timely maintenance of the records instead of waiting until year-end to catch up.,

Not on the agenda

This months’s discussion addressed the $11 million dollar development funds deposited it the Developmental account instead of the General Fund as it should have been. It wasn’t even on the agenda, but has been big new in back-channel discussions and general discussion at the last council meeting.  The Treasurer’s office surfaced this issue and made corrections.


Dan Pinedo is a Citizen Journalist/photographer residing in Oxnard

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