By Michael Tilden, includes “This report follows up on significant concerns raised in our previous assessments on the development and implementation of the Financial Information System for California (FI$Cal). … For the third consecutive year, the State will issue late financial statements, resulting in part from state agencies’ challenges in using FI$Cal. Timely financial reports are important for the State to maintain a high credit rating and access to federal funding.” (Note: California’s latest available annual financial report with audited financial statements is for the fiscal year ended June 30, 2019).