Charlottesville’s Annual Comprehensive Financial Report to be published by December 31

In addition to requiring all localities to conduct an annual audit of their accounts and records, state code also requires a bit of community engagement.

“State code also requires that the city’s auditor to report to the public to the governing body at a public session,” said Chris Cullinan, Charlottesville’s finance director.

Unlike Albemarle, the city’s written report is not yet available but City Council got a verbal report from a representative of Robinson, Farmer, Cox Associates.

The written report will consist of two sections. One is from the auditing firm that gives a review of how well the city follows its stated financial policies.

“Our responsibility as the auditors is to perform the audit in accordance with our professional standards and ultimately to obtain sufficient and appropriate audit evidence to render an opinion on the financial statements,” said Michael Lupton of Robinson, Farmer, Cox Associates.

Lupton said there are still a few items to be processed to complete the audit but said the firm fully expects to issue a clean opinion.

“I’m pleased to report that as part of the FY25 audit process, we did not deem any deficiencies to be significant deficiencies or material weaknesses,” Lupton said.

Cullinan said the audit will be published on the city’s website on December 31. Sometime in January Council and the public will be presented with a dollar amount for how much money was left over at the end of the year.

“To the extent that there are any surplus funds available, there will be a discussion and recommendations for that as well. So that will be coming to you in the future,” Cullinan said.

The written report was due to the Commonwealth of Virginia by December 15. Cullinan sent a letter on December 8 with an explanation to Staci Henshaw, Virginia’s Auditor of Public Accounts. (read the letter)

“Due to the implementation of a new ERP system that delayed audit preparation, the completion of the Management Discussion and Analysis, associated exhibits, related GASB disclosures and applicable GFOA requirements, the transmittal and final audit report will not be submitted by December 15, 2015,” Cullinan wrote.

The report will likely be posted here when it is available.

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