The Lynwood City Council learned at last week’s city council meeting that the City management team has made significant progress in addressing risk areas from a 2018 state audit.
City Manager Ernie Hernandez, in another of promised periodic updates on the matter, reviewed a number of corrective actions that have been accomplished and those that are underway. They include a number of policies that will further improve the budget process and analysis that has occurred in recent months.
The City is already providing the City Council with monthly financial reports, which is actually delivered more frequently than the quarterly updates that the Auditor had recommended.
“It’s part of an overall budget policy that we’ve been developing and will present to the City Council before the end of the current year,” said Hernandez.
In addition, Councilmembers will also receive multi-year projections of revenues and expenditures and an updated salary-setting policy.
Also, before the end of the fiscal year (June 30), the City Council will consider approving amendments to the Municipal Code and will be asked to adopt a revised Purchasing Policy.
“We’ve been very focused updating and strengthening the financial infrastructure of the city,” said Hernandez. “We are in communication with the Auditor’s office about progress we are making and are confident that our actions have and will not only satisfy the Auditor but also reassure the residents that the City is on sound financial footing with practices guaranteed to keep us there.”