Grantsville City received a clean audit report for the 2015 fiscal year, its second in a row, during last Wednesday’s city council meeting.
Ron Stewart from Gilbert & Stewart, CPA, of Provo, presented the results of the audit, which painted an optimistic picture of Grantsville City’s financial health. Stewart said the city received an unqualified opinion, which indicates there were no discrepancies or mistakes in its finances.
The city’s net position, which calculates the difference between its assets and liabilities, increased by $1.9 million in fiscal year 2015. Grantsville saw positive changes in all of its major fund balances, including the general fund and water, sewer and garbage funds.
While the city’s actual revenue in the previous fiscal year was $64,818 less than budgeted, its expenditures were $492,998 less than budgeted.
When asked what grade he would give Grantsville City on its audit, Stewart said Grantsville earned an “A.”
“The staff did a great job getting the information that we needed and it was provided in a very timely manner,” he said.
City Councilman Tom Tripp said he noticed there were no suggestions or findings in the audit report, which generally appear to give a municipality advice on how to improve its finances and financial reporting.
“This is a pretty clean audit report,” he said, to Stewart. “Is this how you see it as well?”
Stewart said his firm did its best to find room for improvement in Grantsville City’s finances, but they were unable to.
“We poked and we prodded and we looked around and asked questions,” he said. “We don’t want to come up with findings, but we really try hard.”
The city council credited Sherrie Broadbent, the city’s finance director, for a second clean audit after there were no findings in 2014 as well.