Commentary
Each city in California has a due date for issuing its annual comprehensive financial report (ACFR), which includes its audited financial statements—but there is no penalty for missing the deadline. So, of course, some cities are laggards.
A few cities in Los Angeles County still have to issue their ACFR for the years ending June 30, 2020 and 2021. But, fortunately, all 88 cities in the county are current up to June 30, 2019.
The city of Artesia was the last in L.A. County to issue its June 30, 2019, audited financial statements, doing so on Aug. 15 of last year. By comparison, Orange County has 34 cities, and they are 100 percent current for the fiscal year ending June 30, 2021….