The City of Heath has once again received a clean audit report from independent auditors.
The Comprehensive Annual Financial Report (CARF) for the 2012-2013 fiscal year received an unqualified opinion, which is the best of the four types of opinions that the City could have received.
Brooks Cardiel & Company, PLLC conducted the audit and noted that the City of Heath is "heads and shoulders above most peer cities” as a result of conservative fiscal management, policies and procedures that have resulted in a balanced budget without raising taxes in 22 years and a healthy reserve fund balance.
“We are very pleased to have received the results of the audit and the unqualified opinion. The report reflects the commitment of the City Staff and City Council to preserving a strong financial base for our City, which is essential to foster the future growth and development of Heath,” said Heath Mayor Lorne Liechty.
Best practices call for maintaining a reserve of 25% of the general fund to ensure that operating expenses are set aside should a dire emergency such as a natural disaster occur. The City’s general fund balance exceeds the amount recommended by best practices.
The City was awarded a Certificate of Excellence in Financial Reporting by the Government Finance Officers Association of the U.S. and Canada (GFOA) for the fourth consecutive year.
Information provided by the City of Heath.