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El Segundo receives FY2023‑24 financial report; external audit issues clean opinion
Summary
City officials presented the annual comprehensive financial report for the fiscal year ending June 30, 2024, reporting a $5,643,857 increase in net position; the city's external audit by Clifton Larson Allen received an unmodified (clean) opinion and the council received and filed both reports.
Chief Financial Officer Paul Chung presented the City of El Segundo's annual comprehensive financial report for the fiscal year ending June 30, 2024. The report showed the city's net position from governmental activities increased by $5,643,857, which staff attributed to various changes in revenue and expenditures. The council received and filed the report.
Tiffany Fung of Clifton Larson Allen presented the external audit, which received an unmodified — or clean — opinion, the highest level of auditor assurance. The council received and filed the audit report.
No formal votes on budgetary actions or changes were recorded in the transcript; both the financial report and the audit were received and filed by the council as informational items.
