Finance & Governance Committee - 12/9/2025 - Agenda Item D1 - Update on FCAP

The City of Oxnard's Finance & Governance Committee received an update on the Financial Corrective Action Plan (FCAP) addressing past audit findings, particularly focusing on compliance and internal control improvements. The update highlighted progress on resolving five outstanding audit findings from the fiscal year 2023-24 single audit, including significant deficiencies in federal program controls and non-compliance with grant requirements such as the Community Development Block Grant (CDBG) and Staffing for Adequate Fire and Emergency Response (SAFER) grants. The committee noted delays in corrective actions due to external factors like the federal shutdown but acknowledged positive strides in managing audit findings since 2015. The plan includes continued testing of corrective measures and aims for full implementation by June 30, 2026, with further updates scheduled.