City Council live — Comprehensive Annual Financial Report (audit for 2011-12) approved

The vote was 6-0.

Ned Leiba, a certified public accountant and budget hawk, sent a letter to Mayor Anthony Silva on Tuesday asking for a postponement of the vote on this matter while some issues are cleared up. But the vote was held nonetheless and the Comprehensive Annual Financial Report (CAFR) was approved.

Ken Pun from the firm that conducted the audit acknowledged, “It’s a difficult audit because of the difficult challenges the city is facing. This is a really tough audit but we made sure as a firm we are comfortable with all the documentation and issuing a clean audit.”

Councilmember Kathy Miller said, “I think we are in a much healthier place today. It’s a lot easier to hear this today because we’ve worked through it.”

Councilmember Dyane Burgos Medina: “We weren’t around when this happened but we need to learn from it.”

Councilmember Elbert Holman: “We were not going to be able to make payroll had we not filed bankruptcy in 2012. We were that close.”

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