Mojave Spaceport: We’re “Financially Viable and Solvent”

Mojave Air and Space Port. (Credit: Douglas Messier)

An update from the Mojave Air and Space Port administration on the financial audit:

Mojave, California (03.12.14)

The CEO of the Mojave Air and Space Port (MASP) announced today that the independent auditors of Lance, Soll and Lunghard, have completed an initial investigation and report that the District remains financially viable and solvent following a special examination of the District’s finances. The special examination was prompted by the unexpected resignation of the MASP CFO the day prior to a planned audit of the District. Upon learning of the CFO’s resignation the District Board President in conjunction with the CEO tasked the firm of Lance, Soll and Lunghard to complete the special examination as soon as possible and provide the feedback to the MASP Board and senior management. The District has also engaged an outside expert, a former public sector CPA, who will be temporarily directing the MASP accounting office staff in the wake of the CFO’s departure. The Board of Directors Chairman, District Counsel, KCSO, and Kern County District Attorney’s office are briefed daily as discovery surrounding the situation continues.

As District financials are being validated, bank statements reconciled, and aging reports confirmed against our 155 tenant contracts, it is likely that monthly financial reports may be delayed. As the teams finish their work over the next several months, we will be making regular financial reports, which the public has come to expect from the Mojave Air and Space Port.