CFPUA Receives Clean Audit for Fiscal Year 2016
CFPUA also receives Distinguished Budget Presentation Award for a seventh straight year
FOR IMMEDIATE RELEASE
CONTACT: Mike McGill
(910) 332-6704
(910) 622-8472
Mike.McGill@cfpua.org
Wilmington, NC (November 9, 2016): Cape Fear Public Utility Authority (CFPUA) is pleased to announce it has received a clean audit for Fiscal Year 2016 from the accounting firm Cherry Bekaert. The audit, which was presented today at CFPUA’s monthly board meeting, examined data supporting the amounts and disclosures in CFPUA’s financial assessments and evaluated its accounting principles.
The audit’s findings and questioned costs were as follows:
Regarding financial reporting:
• No material weaknesses over internal control were identified;
• No significant deficiencies were identified that were not considered to be material weaknesses; and
• No noncompliance material to financial statements were noted.
CFPUA has also received the Distinguished Budget Presentation Award from the Government Finance Officers Association of the United States and Canada (GFOA) for a seventh straight year for its Fiscal Year 2016 report. According to the GFOA, the award “represents a significant achievement by [CFPUA]. It reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting.” In order to receive the award, CFPUA had to satisfy nationally recognized guidelines for effective government budget presentation.
The award is the only national awards program in governmental budgeting. The Government Finance Officers Association is a professional organization servicing the needs of more than 18,000 appointed and elected government officials and other finance practitioners with training programs, services, publications, products to enhance professional skills and performance. It is headquartered in Chicago, Illinois.
“Every year, CFPUA is entrusted with millions of dollars in financial resources and assets. Because of this, we take great care to maintain a high level of transparency and oversight,” said Jim Flechtner, CFPUA Executive Director. “For years, our audits have shared a common theme: our entire staff, including our dedicated Finance team, properly manage the funds we receive from our customers and stakeholders.”
# # #
Cape Fear Public Utility Authority (CFPUA) was formed by the City of Wilmington and New Hanover County to combine their water and sewer operations. It began operations on July 1, 2008. Today, the Authority serves more than 67,000 water customer accounts and more than 65,000 wastewater customer accounts. It oversees more than one thousand miles of water distribution mains and nearly one thousand miles of sewer mains. For more information, visit www.cfpua.org or contact CFPUA’s Communications staff at communications@cfpua.org.