On June 15, the City of Prestonsburg received its audit report for the year ending June 30, 2019, which auditors said was an "excellent" report.
During its regular meeting for the month of June, the Prestonsburg City Council received its audit report, which was prepared by White and Associates, PSC, a certified public accountant firm based in Richmond.
"The audit report was excellent," Artie White said.
According to White, page 85 of the report states there were no findings or no corrective action plan was needed. This was actually one of the firm’s "best" years in regard to getting the information the firm needed in order to conduct the audit White said.
"What we requested, we got," White said. "And a lot of the stuff that we were waiting on or may have needed or just simply couldn't figure out we didn't have that problem. It seemed like a real smooth process."
According to White, in the letter from management, which he said was "little" recommendations that were not significant enough to go into the report, the firm recommended the council go away from cash and even added that it can be "four or five" years down the road, but it’s something the council needs to do. White said that the use of cash creates possible room for internal control issues, although the city had none, and that it's also easier to keep track of non-cash transactions in regards to preforming audit reports.
The report said that the auditors did not find any deficiencies in internal control that the firm would consider to be a material weakness and White even said that the council usually goes "one-step" above what it has to do.
Mayor Les Stapleton said that the council was very pleased to see, other than a few technical issues, some of which he said could be credited to the city's system.
"We were very pleased to have a very clean audit report and it lets the people know that we're very conscientious about the city's money," Stapleton said.