Report 2018-110 Recommendation 3 Responses

Report 2018-110: City of Lincoln: Financial Mismanagement, Insufficient Accountability, and Lax Oversight Threaten the City's Stability (Release Date: March 2019)

Recommendation #3 To: Lincoln, City of

To ensure that it avoids accumulating surpluses, Lincoln should establish policies and procedures by August 2019 requiring it to review its fund balances at least annually and, if necessary, reduce its fees within a reasonable time frame.

60-Day Agency Response

The City Council adopted a new Budget Policy in April that requires the annual review of fund balances for the purpose of avoiding the accumulation of surpluses.

• Completion Date: April 2019
• Response Date: May 2019

California State Auditor's Assessment of 60-Day Status: Fully Implemented

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All Recommendations in 2018-110

Agency responses received are posted verbatim.