Oxnard--The Finance and Governance Committee received its single audit report during its Tuesday, April 23 meeting.
Eden Casareno, partner in charge of Attest Services, led off the report and said the Single Audit Report is an internal government control report required by Government Auditing Standards.
“It’s a requirement by the Office of Management and Budget when a non-federal entity, like a government or non-government entity, spends over $750,000 in Federal awards,” she said. “A Single Audit is required to be submitted to the Federal government and also to the State of California when you receive the Federal grants through the State.”
She said the Single Audit Report for the City of Oxnard for the fiscal year 2023 was stated on March 22, 2024, and submitted to the Federal Government on March 29, 2024, one day before the due date.
The audit includes reports on compliance for each major Federal program, internal controls over compliance, and the Schedule of Expenditures of Federal Awards.
“The internal control over financial reporting and compliance is based on an audit based on financial statements performed in accordance with Government Auditing Standards,” Casareno said. On this report, the Government Auditing Standards require that we report to…
