State Controller John Chiang announced that the city of Stockton will be investigated about its financial practices and reporting of city finances and its redevelopment agency.
According to the Controller's Office, Stockton has not submitted a financial transaction report for the 2010-11 fiscal year. The report was due on Oct. 18, 2011.
"... I have concluded that there is reason to believe that the city's ability to provide reliable and accurate financial information relating to the required financial reports is questionable," Chiang said in a letter to Stockton City Manager Bob Deis.
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