The city of Susanville has a weakness: a recent audit of the city’s financials revealed they lack timeliness and Accuracy of accounting records. Though Finance Manager Chandra Jabbs says it is because they are a year behind due to impacts from the Dixie Fire, staff turnover with the City Administration and Finance manager, and the city turning a focus on getting out of its budget deficit through the initiative to increase the sales tax.
The firm Van Lant & Fankhanel, completed the audit for the fiscal year ending June of 2022. Overall the firm said the city received an unmodified opinion, equating to clean remarks—the highest level of reporting.
The audit brought attention to several key financial indicators for the city. Notably, the city’s 2022 net pension liability decreased by $5 million compared to the previous year. It was noted that this reduction was not related to the anticipated unfunded CalPERS liability payments, which are expected to be reflected in the current fiscal year. The general fund balance also saw a positive increase of $1.7 million. Furthermore, the unrestricted fund balance in the general fund is noteworthy, representing 39% of 2021/2022 expenditures, equivalent to approximately five months of reserve funding.
Jabbs says they expect delays in the 22/23 year-end but hope to be back on schedule by the 23/24 fiscal year.
