The City of Compton appreciates the State Controller’s review of its administrative and internal accounting controls system as well as its recommendations for improvement – a goal shared by our entire community.
While there are many areas of improvement highlighted in the report, we are pleased that the State Controller acknowledged the City’s recent efforts to address existing deficiencies. When our City’s new Leadership Team came on-board, we quickly recognized many of the same shortcomings identified in the report from past practices and have since made substantial progress in correcting them – especially as they relate to staffing capacity, senior management, and deficit reduction.
However, we are committed to improving our organization and we have already begun the process of systematically assessing and implementing the report’s recommendations on how to improve our management of the City’s revenue and expenditures. Specifically, we wanted to highlight our efforts in three areas:
It cannot be overstated that Compton is fiscally solvent and is at no risk of a financial breakdown or bankruptcy. The audit report recognizes the significant strides made in recent years through its recommendation that we continue our efforts to address the City’s deficits and adhere to its current long-term debt elimination strategy.
Our top priorities are the completion of any outstanding audits and financial reports while ensuring that proper bookkeeping and accountability procedures are implemented. By completing outstanding reports and aligning our financial oversight with industry best practices, we will be able to outline a comprehensive strategy to prevent future issues from occurring. To assist in this task, we have expanded our operational capacity by hiring additional staff to join our management team – focusing heavily on additions to human resources and the City Controller’s Office.
We are excited for the opportunity to reevaluate the City’s policies and procedures, as that work enables us to identify innovative ways to re-imagine and strengthen our financial and management processes. We intend to comprehensively overhaul our operations to reflect known best practices around governance policies, oversight, and accountability.
We understand that government is only as successful as its policies, staff, and culture. We intend to work together and vigorously pursue the remainder of the report’s recommendations to create a stronger Compton for years to come.