Oxnard-- The Finance & Governance Committee received its annual comprehensive summary report from auditors Eadie & Payne during the Tuesday, January 11, meeting.
Eden Casareno presented the item to the committee, and she said the company completed the financial statement for the City of Oxnard for June 30, 2021.
“That’s six months after the end of the fiscal year,” she said.
The city received a clean opinion for June 30, 2021.
“What a clean opinion means is the financial statements that are presented to you and the public are fairly presented in all material respects in accordance to accounting principles generally expected in the United States of America,” she said. “Our opinion is based on the audit procedure that we performed starting in May or June through December.”
She said it’s also based on a report provided by the auditor of the Oxnard Housing Authority.
In 2020, the city’s assets and outflows totaled around $3 billion. That increased by about $90 million in 2021.
“More than $70 million of that increase is an increase in cash and investments,” she said. “There’s also an increase of more than $20 million in receivables.”
She said that liabilities and preferred inflows increased…
