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Mayor Greg Fischer Newsroom


City Receives Near-Perfect Annual Financial Audits

Friday April 26, 2013

Only one finding in review of city expenses, performance

Mayor Greg Fischer announced today that Louisville Metro Government has received its annual financial audits with only one reportable deficiency, a first for the merged government.

“After many years of audits that discovered numerous findings and deficiencies, I’m very honored and proud of the improvements we have made on behalf of the taxpayers,” Fischer said. “Chief Financial Officer Steve Rowland and his team at the Office of Management and Budget have done an incredible job of watching every dollar we spend.”

The 2012 Comprehensive Annual Financial Report and the Federal A-133 Single Audit were both conducted by independent auditor Crowe Horwath.

The one finding Crowe made involved the need for improved controls in the documentation of eligibility determination for the Low Income Home Energy Assistance Program, which helps families pay heating bills in winter. The Department of Community Services and Revitalization, which administers the federal program, has already developed a corrective action plan.

Since the merged government was created in 2003, the city has averaged 31 findings a year. Last fiscal year, the first year in which the Fischer administration was audited, there were four findings.

Rowland attributed the vast improvements to a dedicated financial team and to the consolidation of all business operations in the Office of Management and Budget, which occurred last year.

“The processes we’ve put into place are working well -- and these audits are a sign of that,” Rowland said.

The audits are available at: http://www.louisvilleky.gov/yourtaxdollarsatwork/financial_reports.htm

http://www.louisvilleky.gov/yourtaxdollarsatwork/city_gov_audits.htm