Beaumont 2017 Audit; Will the Third Time be the Charm?
Never have I Seen or Heard of an Entity in the Private or Public Sector Create 3 Different Audits for One Year. This is Ridiculous.
The City of Beaumont closes their books each year on June 30th. In the private sector; the yearly financial statements are prepared and submitted to an independent auditor within three weeks of closing the books. Government agencies throughout California close their books and complete their audits by December so their Council and Board Members have the information to prepare the next years’ budget.
State and Federal Laws require the City to submit their Audited Financial Statements ‘in a timely manner’ and give local agencies six months to produce audited financial statements. On February 16, 2018 the City had to submit notification to EMMA and attach the Notice to all of the City’s Bonds ; “Failure to File Financial Statements for year ended 06/30/2017”.
The City of Beaumont, in collusion with the Pun Group, has now produced three different versions of the 2017 Audit Financial Statements.
The first 2017 Audited Financial Statements were presented to the Beaumont Audit and Finance Committee on June 4, 2018; six months after the Audit was due. No one from the Finance and Audit Committee nor the public was allowed to view the Audit before the Committee was forced to ‘Approve’: https://beaumont.civicweb.net/document/14201/Beaumont_BFS_Draft_06_04_18%20(002).pdf?handle=83E0A70C5DF24D65B3AC3503E6C34A9D
The City Staff and the Pun Group refused to release the Internal Controls Report or the list of $400 Million in Capital Assets that has been Forged on the Audit.
The second 2017 Audit was presented to the City Council on June 18, 2018: https://beaumont.civicweb.net/document/14644/FY17_Beaumont_DRAFT%2006.15.18.pdf?handle=36428D56F44C471C8ADF4963B7F6384B
Again; the City Staff and the Pun Group refused to release the Internal Controls Report or the list of $400 Million in Capital Assets that has been Forged on the Audit.
The City/Pun Group has now produced a third version of the 2017 Audited Financial Statements that will be presented to the Audit and Finance Committee on August 6, 2018: https://beaumont.civicweb.net/document/15550/Attachment%20B.pdf?handle=AC520A8925C14FF182271F445FCCD9F0
The Internal Controls Report is nothing more than a one-page Staff Report that does not include the Internal Controls Report: https://beaumont.civicweb.net/…
The Capital Asset List is nothing more than a one-page Staff Report that does not include the list of Capital Assets: https://beaumont.civicweb.net/…
The Auditors are required to release the list of Capital Assets and Internal Controls’ Report with the Audited Financial Statements. Multiple public Record Requests have been submitted for the 2017 Internal Controls Report and the list of Capital Assets, but the City refuses to release the documents.
This will be the second 2017 Audit put before the Audit and Finance Committee and the third 2017 Audit presented to the City Council.
TO THIS DAY not one member of the Committee or the City Council has requested to see the Internal Controls Report or the forged list claiming $400 Million in Capital Assets. They just blindly ‘approve’ everything put before them.