Caspian gets high marks on audit report
CASPIAN— The city of Caspian earned an “unmodified opinion,” CPA Scott Kenney told commissioners at the city’s Nov. 7 meeting.
That audit opinion, said Kenney, “is the highest level of opinion we CPAs can render on financial statements.”
Kenney reviewed the audit report with commissioners noting that procedures were done according to accounting principles and government auditing standards.
Kenney went over parts of the audit report for the city’s fiscal year, which ended June 30, 2018, noting that the city’s fund balance had dropped slightly but the city was still in good financial shape.
“It’s a real compliment to the city and to the board,” Kenney noted.
The only negative, he explained, was in the underfunded retirement funds, although adding that the shortage was at a smaller percentage.
Regarding the major street fund, Kenney noted that although there wasn’t a lot of money in that fund, the city did spend money on such projects as County Road 424
Although the non-major street fund is down, he said, there is still a positive fund balance there.