City audit report completed for 2014-15
Jeremy M. Lazarus | 11/4/2016, 5:49 p.m.
It came in nearly a year late, but Richmond finally has completed the Comprehensive Annual Financial Report, or CAFR, for fiscal year 2015 — and gained good news to boot.
The report, which is now posted on the City of Richmond website under the Department of Finance, confirmed that the city finished the 2014-15 fiscal year with a $4.6 million surplus, in line with the forecast from Mayor Dwight C. Jones’ administration.
Mayor Jones has stated that he would seek Richmond City Council permission to use a major share of the surplus to enable the city Police Department to hire more recruits and to support the Department of Public Works’ operations.
The report is for the fiscal year that ended 16 months ago on June 30, 2015. The mayor and his administration have endured criticism for failing to have the CAFR completed in a timely fashion. It is supposed to be done within five months of the close of books.
The CAFR also was nearly a year late for the 2014 fiscal year and delayed in 2013.
The city’s external auditors, Grant Thornton accounting firm, released the 2015 CAFR on Monday and did not find any issues that needed to be addressed, according to city officials.
