Fiscal year annual audit 1997/98 |

Fiscal year annual audit 1997/98

With staff downsizing and rough financial waters hopefully a thing of the past, the city of South Lake Tahoe’s financial statements have been declared healthy and accurate, according to a recent audit.

“We’re obviously doing something right because our revenues exceeded our expenditures,” said Sue Schlerf, assistant city manager. “This audit -which is required by law to make sure our accounting practices are correct- shows that we are complying with General Accounting Principals. It shows we’re doing it right, and on time.”

The 1997/98 fiscal year audit was conducted by Moss, Levy & Hartzheim, an independent certified public accounting firm based in Citrus Heights, Calif.

“I didn’t see any misappropriations of funds, or any back-room dealings,” said Brett Miller, the certified public accountant who oversaw the audit. “There were no surprises. We only had a few minor points that need action.”

This was the first year Miller and his firm conducted the city’s audit, and according to him, a fresh pair of eyes helped detect several issues which were overlooked by previous auditors.

“The good news is that the General Fund has increased its fund equity by $1.5 million,” Miller said. “In large part that was due to an increase in the TOT.”

But he also noted that the city should consider hiring someone to oversee grant requests and the distribution of those funds to ensure accurate and swift processing. He also noted that more attention should be focused on interest allocations, petty cash procedures and county software.

The software issue comes as no surprise to city employees who have been battling their way through the 19-year-old technology for quite a while.

“We are going to put in a request to the city council for new software,” said Robert Porfiri, accounting manager for the city. “It’s worked so far but there comes a point when it would take so much effort to upgrade that it would just save everyone time and money to update our technology now.”

Miller noted that his firm could not provide any assurance that South Lake Tahoe would be ready for the year 2000 and the associated issues and complications. Nevertheless, he gave the city a clean bill of health.

“We passed and got some excellent pointers,” Schlerf said. “But we need to revise the way we do business in certain areas.”

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