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Oxnard accounting meltdown starting to solidify, covered at Fiscal Policy meeting (video included)

Oxnard accounting meltdown starting to solidify, covered at Fiscal Policy meeting (video included)

By George Miller At the 3-9-16 Fiscal Policy Task Force meeting, we received the current audit status and internal audit plan status and were treated to a lively discussion. Audit Status Summary Audit still not complete, potentially inviting more state action, Controller’s audit, breaking bond covenants, affecting credit rating Several outside firms engaged to help with […]

More on the Oxnard Accounting meltdown

More on the Oxnard Accounting meltdown

By George Miller Ever since operational audits were initiated by Oxnard City Manager Greg Nyhoff a few months after he came aboard on 6-1-14, the city has been aware of glaring deficiencies. 128 were identified, in multiple departments, possibly worst and certainly most visible, in the Finance Department. Months after Finance Director James Cameron retired in […]

Oxnard fiscal task force meets- ’14/15 annual report delayed at least to 3/31/16

Oxnard fiscal task force meets- ’14/15 annual report delayed at least to 3/31/16

By George Miller The good news is that the Oxnard Fiscal Policy Task Force composed of the City’s heavyweight financial staff, consultants and auditors will meet Wednesday morning. The bad news is that the books are in even worse shape that the experts thought and the Year ending 6/30/15 CAFR (Comprehensive Annual Financial Report) will […]