City of Inglewood Financial Audit Lacks Independent Opinion

This week’s regular city council agenda for the city of Inglewood includes real estate transactions, request to use Asset Forfeiture funds on non gang intervention actives and an oral report on the city’s FY 2017-2018 Financial Statements and Single Audit for the city of Inglewood and the Inglewood Housing Authority.

City Manager Artie Fields in closed session negotiations of owners at a property in Briarwood (3500 W. Manchester Blvd #354) and a property in District 4 located at 3552 W. 111th St.

The city will also purchase more personal property related to the expansion of Century Blvd to accommodate increased traffic to the NFL/NBA venues.

On December 15, 2015, the city entered into Agreement No. 16-064 to provide audit services for various city funds. Lance Soll and Lunghard were to audit AQMD, Inglewood Housing Authority, and FY 2014-15, 2015-16, and 2016-17. The final amendment to the initial agreement covered FY 2017-18, which is completed on May 2019.

The auditor shared it’s their opinion that the financial statements were presented in a fair manner in accordance with generally accepted accounting principles.

The auditor’s report, dated May 22, 2019, states the city adopted a new accounting guidance, GASB Statement No. 75, related to Post Employee Benefits Other than Pensions to which the auditor offered no modified opinion on.

Related: Compton Federal Grant Audit Lacks Official Opinion

The auditors could NOT express an opinion related to general fund, noise mitigation (RSI funding), housing successor agency, Section 8, grants funds, net pension liability, and changes to OPEB liability.

Related: How Inglewood sidestepped voters when it took on millions in debt to cover up a deficit, then gave raises for executives

The auditors also expressed no opinion on the effectiveness of the City’s internal control over financial reporting or on compliance.

In short, the auditors were paid to produce audits, that give the public no clear idea of how effectively CFO David Esparza, Assistant CFO Sharon Koike and Finance Manager Maria Heaney are managing taxpayers money and furthers the notion of why the former Budget and Finance Manager Barbara Ohno was terminated for discovering their ineptness and failures of following accounting and ethical guidelines to lure the NFL.

With the closing of the Hollywood Park Racetrack, the city doesn’t have the capacity to house the number of cars expected to arrive at Stan Kroenke’s multi-billion dollar NFL stadium and residents can definitely expect to see land seized, under eminent domain, along Prairie Ave, to accommodate parking. The city is already so on Century Blvd to widen the street, and on LaCienega Blvd to erect electronic billboards.

Homeowners are also expected to foot the bill for a “people mover”, that extends from the Crenshaw/LAX line to the Forum, NFL stadium and potential NBA arena, financed by their increased property values.

Raise your hand if you regret signing a petition in favor of the NFL coming to Inglewood.