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Gardena council receives clean audit, hears $10M'$12M structural risks from card club and fire costs
Summary
Council received and filed the city's audited comprehensive financial report for the year ending June 30, 2025; auditors issued an unmodified opinion with no findings. Staff highlighted a modest surplus, healthy reserves above policy and potential future hits to revenue from state casino litigation and proposed LA County Fire cost adjustments.
The Gardena City Council on Dec. 9 received and filed the city's audited comprehensive financial report for the fiscal year ended June 30, 2025, after auditors from Gruber & Lopez Inc. issued an unmodified opinion and reported no audit findings.
City staff told the council the audit showed a modest operating surplus of about $628,000 for the year and general fund reserves equal to roughly 39 percent of policy targets, well above the council's 25 percent guideline. "We received an unmodified opinion," the presentation said, noting the report shows the city's financial statements are presented fairly in accordance…
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