On April 15, 2013, Shoreline Water District received notice of a clean audit from the Washington State Auditor’s office regarding our 2012 finances and accountability processes. As stated in their report,
- There were no uncorrected misstatements in the audited financial statements.
- There were no material misstatements in the financial statements corrected by management during the audit.
- No significant deficiencies in internal control over financial reporting were identified.
- No instances of noncompliance were identified that could have a direct and material effect on the determination of financial statement amounts.
Furthermore, the audit indicated that the prior May, 2011 finding of “inadequate internal controls over financial statement preparation” was fully resolved. The report states, “Management has developed a review process by someone other than the preparer to ensure the financial statements and notes are accurately reported. No material errors or significant deficiencies in internal controls were identified in the current audit.”
The District’s next audit, scheduled for July 2013, will cover the following two areas:
- Accountability for Public Resources – 2011 and 2012
- Financial Statement – 2012
To view a copy of the audit report, click here: