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Council receives audited FY 2023–24 financial report; staff proposes $1.17 million for emergent priorities
Summary
City staff presented the audited annual comprehensive financial report for fiscal year 2023–24, noting a clean audit opinion and a recommended allocation of $1.17 million in unassigned general-fund balance toward equipment replacement, emergency repairs and a Section 115 pension trust.
City Finance Director Jing Guo presented the City of Pico Rivera’s audited Annual Comprehensive Financial Report for the fiscal year ending June 30, 2024, at the council meeting on Jan. 28. The independent auditor, CliftonLarsonAllen, issued an unqualified (clean) opinion, Guo said.
Guo told the council the general fund ended the year with operating revenues of about $60,360,000 and transfers in of about $1,680,000. Operating expenditures were approximately $50,130,000, with transfers out of $9,240,000; the year‑end net result was about…
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