Tuesday, November 12, 2013

Oro Valley Receives Clean Audit Opinion

Oro Valley has issued its 2013 Annual Report.

"The Town of Oro Valley has received a clean audit opinion from public accounting firm Heinfeld, Meech & Co., P.C., for the fiscal year ending June 30, 2013. The audit identified no deficiencies or concerns.

These audit findings also confirm preliminary figures that the Town ended FY 2012-13 with a $1.7 million surplus in the General Fund. The revenue overage was primarily due to local sales tax collections (specifically construction sales taxes), and license and permit revenues due to increased development activity. Surplus funds have been carried into the new fiscal year 2013-14, for investment in future capital projects." (Source: Oro Valley press release)

Stacey Lemos, Oro Valley Finance Director, prepared the report. The 126-page report is full of interesting information. Page 1 of the financial section is a copy of the auditor's clean opinion.

Each year, the Oro Valley report has been award winning.  This year should he be no exception.

No comments: