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West Covina council approves year-end budget amendments amid audit committee concerns
Summary
The council approved a fourth-quarter financial report and $2.4 million general-fund revenue / $1.6 million expenditure amendments after debate about audit timing; two members voted against or expressed caution and public speakers urged the audit committee review the figures first.
West Covina City Council on Jan. 6 adopted midyear budget amendments that increase general fund revenues by roughly $2.4 million and raise expenditures by about $1.6 million — changes staff said are needed to record year-end journal entries and interfund transfers.
Finance Director Karen Ogawa told the council the fourth-quarter report is preliminary and does not include year-end audit adjustments, but said mutual-aid reimbursements and higher-than-expected ambulance reimbursements helped produce the reported revenue increases. “We are projecting right now a $4,500,000 reality, we will not have a $4.45 million surplus at the…
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