Long Overdue Financial Report for California Brings Bad News

Long Overdue Financial Report for California Brings Bad News
California's Capitol building in Sacramento, Calif., on the night of Jan. 9, 2024. Travis Gillmore/The Epoch Times
John Moorlach
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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.

John Moorlach
John Moorlach
Author
John Moorlach is the director of the California Policy Center's Center for Public Accountability. He has served as a California State Senator and Orange County Supervisor and Treasurer-Tax Collector. In 1994, he predicted the County's bankruptcy and participated in restoring and reforming the sixth most populated county in the nation.