Port gets top marks from State for 17th time
The Port of Edmonds Commission and staff are pleased to have successfully completed a comprehensive audit by accountants from the State Auditor’s Office.
The Audit Report was submitted December 20, 2010, without error or exception. It’s important for taxpayers and stakeholders in the Edmonds Port District to have full confidence in the administration of the Port’s policies and fiduciary responsibilities. Accountability and transparency are core values at the Port.
As a government agency in the State of Washington, the Port of Edmonds is audited by the Washington State Auditor’s office every two years. The auditor’s recently completed their examination of our financial records from January 1, 2008, to December 31, 2009.
They do not examine every transaction and activity, but instead focus on the transactions and activities that they consider the highest risks. For this audit, they evaluated the accountability for public resources and compliance with laws and regulations in our lease agreements, procurement processes and procedures, cash receipting, accounts receivable write-offs, safeguarding of assets, and the Open Public Meetings Act. They found no areas of concern.
In addition, the State Auditor’s Office expresses an opinion on the Port of Edmonds financial statements. The State Auditor’s Office audited the financial statements and issued an “unqualified” opinion, which means that the financial statements are presented fairly, in all material respects, without exception.
The State Auditor’s Office also reviews and reports on the Port’s internal controls over financial reporting and on noncompliance. No errors were noted, and all records were found in good order and compliance with state law and Port policies.
This is the 17th consecutive biannual audit and nearly 34 years without a finding. As the auditors said in their recent recognition letter to the Port, “this accomplishment shows the Port’s dedication to sound financial operations and timely financial reporting.”
The full audit report is available at the Port office. Please contact the Port for any additional issues or questions concerning the audit, or any other matters of public concern about the Port.