City Finances Reported as Solvent for Previous Fiscal Year
December 3, 2014
Annual audit shows city finances reported accurately
by Barry Featheringill
Sullivan Reporter
Sullivan’s annual audit was presented at last month’s later city council meeting, and it signaled a comfortable financial situation.
The type of opinion issued by West & Co was an ‘unqualified opinion,’ which means the numbers presented to West & Co. and to the public April 30, 2014 were done so fairly and in accordance with most general accounting principles. It is the highest opinion an auditor may make on financial reports.
“The overall financial condition of the city is solvent as of April 30, 2014,” added Russell. “It is healthy and stable as it was last year.”