Where is our CAFR?
How can our interim city manager make financial recommendations to council without having the Comprehensive Annual Financial Report (CAFR) and City Audit of 2019 presented to them in a timely manner? How can a city plan a budget to work on without financial data? That would be like our country working on the coronavirus without data.
The 2018 City Audit and CAFR were presented to council late on Feb 5, 2019. Auditor Brandon Young told the council that the reason for his lateness was the loss of the finance director in July 2018 and another finance department employee.
Our new finance director has been employed by the city for over a year, so are we now blaming the cyber attack that took place back on Dec. 16, 2019 for not completing the job. The auditing firm most likely completed their required work “The Audit” by that time. The City of Lodi completed their CAFR on Feb 19, 2020. The City of Elk Grove completed their CAFR on Jan 22, 2020. And the City of Sacramento completed their CAFR on Dec 26, 2019.
We are presently in late April with no CAFR and Audit for 2019. The fiscal year ending budget for the city of Galt is June 30, 2020. Without a plan, the city must be planning to fail. Maybe the city is spending too much time eliminating Assembly Bill 3773.