Oxnard--The Finance and Governance Committee received an update on the financial corrective active plan for closing past audit findings during its Tuesday, April 23 meeting.
THE last corrective action plan was presented in November 2023, and auditors have tested and determined that corrective action is ready for auditors to test for the next single audit.
Internal Controls Senior Manager Jennifer Hiraoka presented the update, which included the policies and procedures approved (if applicable), the completed training, and corrective action ready for auditors to test during the next single audit.
“During our October 2023 update, we reported that we had two unresolved unique findings that remained in progress,” she said. “In February, during the fiscal 2022-2023 single audit, one audit finding was cleared. Eadie+Payne determined the City sufficiently completed the corrective action plan for the finding identified in the fiscal year 2021 audit related to updating the indirect cost allocation plan.”
She said the City has completed a new cost allocation plan and is implementing it with the fiscal year 2024-2025 budget.
“This means the Finance Department has closed out all accounting and financial management audit findings,” Hiraoka said. “That leaves only one prior IT-related finding in progress and not…
