City’s 2015 audit may be completed this week
7/1/2016, 6:40 a.m.
Richmond City Hall, though months late, soon could be finished with an audit of its books for the 2015 fiscal year that ended a year ago.
Selena Cuffee-Glenn, the city’s chief administrative officer, and Lenora Reid, the city’s chief financial officer, were expecting to wrap up the audit process for 2015 on Thursday — the same day the city will close the books on the current fiscal year, 2016.
“We’re just waiting to receive the auditor’s opinion,” said Ms. Cuffee-Glenn, who had pledged to Richmond City Council that she would try to complete the outstanding 2015 audit by this week.
The Comprehensive Annual Financial Report traditionally has been completed within five months of the close of books. The city’s fiscal year runs from July 1 to June 30 of the next year.
The audit provides a close look at the city’s revenues, expenses, assets and other financial items.
This is the second consecutive year the audit has been completed late, although the 2015 audit will be finished much sooner than the 2014 fiscal year audit.
That audit didn’t get done until Oct. 6, 2015, and the struggle to complete it led the city’s longtime audit firm, Cherry Bekaert LLP of Wilmington, N.C., to quit. Another firm, Grant Thornton LLP of Chicago, handled the audit for the 2015 fiscal year.
