Mayor Chris Beutler today announced that the recently completed audit of the City's Comprehensive Annual Financial Report (CAFR) for the 2015-16 fiscal year found no areas of concern. City Finance Director Brandon Kauffman said it was remarkable for a City the size of Lincoln to have no audit "findings," or suggested adjustments.
"One of the main goals of City government is to maintain a very high standard of financial performance," Beutler said. "The public needs to know that their tax dollars are being spent appropriately. The results of this extremely thorough annual audit reflect that commitment.
Keep in mind that this audit also looks at whether we are meeting all the stringent requirements for various federal grants and the national auditing standards of the Federal Accounting Standards Advisory Board. Again, our record is stellar."
Another sign of the City's strong financial position, Beutler said, is the City's highest possible bond ratings from the credit rating agencies. The high ratings save the City millions of dollars in interest when the City borrows money.
The City's annual CAFR has received a Certificate of Achievement from the Government Finance Officers Association for 32 consecutive years - the longest streak in the State. The City will find out later this year if it will again receive the designation for the recently audited report.
The Mayor thanked Kauffman, City Controller Peggy Tharnish, Accountants David Schleuter and Jane Tillman, other Finance Department staff and former Finance Directors Don Herz and Steve Hubka for their outstanding work. "The citizens of this community are very fortunate to have such talented and dedicated professionals working for them every day," Beutler said.
More information on the Finance Department and CAFRs for previous years are available at lincoln.ne.gov (keyword: finance).