"Arizona has yet to publish an annual comprehensive financial report for the fiscal year that ended during the summer of 2022.
A national standard for when the report should have been released was the start of January.
An Illinois-based firm called Truth in Accounting crunches government data from all states and dozens of cities to put yearly comprehensive financial reports into a more understandable format.
Founder and CEO Sheila Weinberg is a Certified Public Accountant.
“Unfortunately the state of Arizona has in the last few years been historically late in issuing their report.”
The state department of administration says delays were caused by reporting required for federal pandemic aid money. This led to slower report preparation, which had a ripple effect. Also a Medicaid scam has slowed the release of Arizona’s report for the fiscal year that ended 15 months ago.
But Arizona is chronically tardy in producing its annual comprehensive financial report.
The state has met a national standard to release the report within six months of the end of the fiscal year just once since 2009, according to Truth in Accounting.
“What’s going on in their accounting system that they cannot issue it on a timely basis,” Weinberg said."
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