Long Overdue Financial Report for California Brings Bad News
Published on March 18, 2024
Commentary When it comes to the reporting of the accounting of our 50 states, two main concerns can be observed. The first is the delinquency rate of several states. For the fiscal year June 30, 2022, 20 states released their audited financial statements within six months. There are four states that deviate from the norm, with one having a fiscal year ending in March, another in August, and two in September. Eight more states issued their reports in January of 2023, two more in February, eight in March, two in April, one in May and June, three in August and one in October. Then the dribble stopped. No reports from California and Nevada until 2024, more than 18 months after the close of the fiscal year....