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Gardena audit shows clean opinion; city flags CalPERS, county fire costs and casino litigation as fiscal risks
Summary
Auditors gave Gardena an unmodified (clean) opinion on the fiscal year ended June 30, 2024, while city officials warned CalPERS liabilities, a possible LA County fire cost adjustment and pending casino litigation (SB 549) could materially pressure future budgets.
The City of Gardena received an unmodified (clean) audit opinion for the fiscal year ended June 30, 2024, city auditors told the City Council Tuesday, and staff used the report to outline long‑term financial risks and mitigation options.
"The city of Gardena received no findings regarding the financial statements," said Ron Lopez, managing partner at Gruber & Lopez Inc., the contracted audit firm. The auditor reported general fund revenue of about $86.8 million, expenditures near $85.9 million and an increase in net assets of roughly $947,000 for the year. Staff said the general fund reserve ended near $33.4 million, about 39% of annual expenditures.
City leaders used a follow‑up presentation to highlight three threats that could erode the city’s fiscal position: growth in CalPERS unfunded…
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