City of Richmond may not make target deadline for 2015 financial report

RICHMOND, Va. (WRIC) — The City of Richmond will likely not meet the latest target date for the state mandated Comprehensive Annual Financial Report.

The report was first due to the state in December. After that date passed, the city set a target date for completion on February 28. City officials say they don’t think that deadline will be met.

A draft was sent to the state in January, according to city officials. However, they say the auditor asked for more information just this week.

Deputy Chief Administrative Officer of Finance and Administration Lenora Reid sent a notice to members of Richmond City Council.

“Staff continues to work diligently to respond to all questions raised by external auditors,” it reads.

Click here to read the full memo.

In order for the City of Richmond to keep running, it’s required by law to turn in a finance report to the state every year. The document outlines how much money the city made, how much it spent and what is left over for the current fiscal year.

Last year, Richmond submitted its financial report more than ten months late. Deadlines were pushed back repeatedly, beginning in November of 2014.

8News investigator Kerri O’Brien is working to learn more about this developing story. Watch 8News at 6 for the latest updates.

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