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State auditors find no financial discrepancies with city of Bainbridge Island in 2012 review
Washington State Auditors informed city staff last week that there were no financial discrepancies in this year’s exit review.
The auditing office reviewed the city’s accountability for public resources and financial statements.
In a report provided to staff during the 10-minute exit conference earlier this month, auditors explained that they found no errors in accountability. It was also explained that there were no uncorrected misstatements in the audited financial statements nor material misstatements in financial statements corrected by management during the audit
There were no significant deficiencies in internal control over financial reporting and no instances of noncompliance that could have a direct effect on financial statement amounts.
It was a positive meeting for city staff. The auditors concluded that because there were no discrepancies found in the audit, they had no recommendations. The next audit is scheduled for autumn 2014 and will cover the same areas: accountability for public resources, financial statements and federal programs.
Audit reports are published online at the State Auditing Office website, visit www.sao.wa.gov.