News Release
SACRAMENTO — Today, State Controller Malia M. Cohen authorized an audit of Mendocino County after conversations with county officials who expressed concerns as to whether the annual financial reports required to be prepared and delivered to the state are correct and complete.
Controller Cohen acknowledged receipt of the request for an audit from the Mendocino County Board of Supervisors, who voted unanimously to request the State Controller’s Office’s assistance to resolve what some officials have referred to as a ‘fiscal crisis’ within the county. “As California’s chief fiscal officer, the financial health of all 58 counties is of paramount importance to the overall fiscal wellbeing of the state,” said Controller Cohen. Controller Cohen’s action also follows a recent warning issued that the county’s rating may be placed under review for possible withdrawal of credit rating unless the county completes its now-delinquent annual financial statements.
In response to the county officials’ statements concerning the fiscal uncertainty and instability of the county, Controller Cohen said: “My office will review the county’s internal controls. The failure to deliver timely financial reports as mandated by law could place the county at a competitive disadvantage and may drive up the interest rate beyond what the county would typically pay for such issuance.”
The audit has commenced and is underway.
As the chief fiscal officer of California, Controller Cohen is responsible for accountability and disbursement of the state’s financial resources. The Controller has independent auditing authority over government agencies that spend state funds. She is a member of numerous financing authorities, and fiscal and financial oversight entities including the Franchise Tax Board. She also serves on the boards for the nation’s two largest public pension funds. Follow the Controller on Twitter at @CAController and on Facebook at California State Controller’s Office.
