(GDN) – It’s a gentle reminder urging Goldsboro to get back on track with its annual financial audits.
This week, Sharon Edmundson, Deputy Treasurer and Director of the Local Government Finance Division with the State Treasurer’s Department, impressed upon the Goldsboro City Council the importance of providing the audits on time to the state.
She says the audit represents accountability and credibility to the city’s creditors, grantors, and taxpayers.
The annual audit also serves as a vehicle for the N.C. Department of the State Treasurer to measure Goldsboro’s fiscal health.
Edmundson says Goldsboro has fallen into a pattern of not submitting its audits on time going at least as far back as June 30th of 2016.
She also reminded that the late audits mean the city will not be able to request debt approval, meaning Goldsboro cannot borrow money at this time.
Mayor David Ham assures the council takes the late audits seriously and the city has confidence in its financial department.
The State Treasurer’s Office plans to present a Fiscal Accountability Agreement to the City of Goldsboro asking that the city prioritize catching up on its audits.