March 18, 2010 — The results of the yearly financial audit were presented to Morehead City Council at its March meeting.
“We were very pleased that it had no findings,” Mayor David Perkins said. “That’s the threshold: if you have no finding you’ve got a good audit. We actually had a little bit of gain in our resources last year.
“We were pleased to get a good report,” Perkins said. “There are quite a number of things that are looked into, how we handle money literally and if we are handling it so there is some kind of trail where things don’t get lost in the cracks. It was fairly lengthy but we came out good.”
“The audit standards have been increased over the past several years for good reason and it’s a lot easier to read and understand,” said council member Tom Carew. “It means that the mayor and Diana Reeder do a good job in managing the funds that we have.
“There were no manage recommendations or audit adjustments and that’s another indicator, if there’s more than 10 adjustments it’s a rule of thumb for me that I need to start probing and asking questions,” Carew said. “In this day and time it’s good that we follow the accounting rules and manage our funding.”
The 2008-2009 financial audit was completed by Kelley, Galloway and Company based in Ashland.
