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Council authorizes limited-scope cannabis revenue audits to reduce costs for local operators
Summary
Council authorized the city manager to award a limited-scope revenue audit contract for licensed cannabis businesses to Booth Management Consulting (BMC), reducing audit fees for businesses from roughly $10,000 to under $2,000 per audit under the proposed scope.
Port Hueneme’s City Council authorized a limited-scope revenue audit contract for the city’s licensed cannabis businesses, a change staff and council framed as a cost-reduction step for smaller operators.
Finance Director Lupe Acero (introduced to the council as Lupe Acero) told the council staff put the audit scope on a smaller scale—focusing on core documentation such as point-of-sale records, state tax returns and general ledgers—but excluding bank statements, purchase records and inventory review. Staff said that change reduces auditor…
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