Oxnard-- The Finance & Governance Committee, Tuesday, February 14, received its 2021-2022 Annual Comprehensive Financial Report and Summary Presentation.
External Financial Auditors Eadie & Payne delivered the report, and Eden Casareno said Oxnard has a Clean Opinion for June 30, 2022.
“Kudos to your management and the entire City for receiving a clean opinion,” she said. “This is the highest level we can provide to you. It means that the financial statements presented to you in the ACFR (Annual Comprehensive Financial Report) are in accordance with the generally accepted accounting principles.”
Chairman Mayor John John Zaragoza noted that a Clean Opinion is important.
Casareno said the Clean Opinion is because of the Finance Department’s due diligence, those involved in the audit, and the financial reporting process.
“Like Utility billings, Public Works, and the Attorney’s Office, for example,” she said. “The City Manager’s Office was involved in all this work, Human Resources, and Housing. Everyone in the City put their efforts into preparing these financial statements. The Finance Department put it all together.”
She said one of the significant Audit matters to go over includes accounting estimates, which is important.
“Management makes approximations of financial statement items, such as receivables…
