McPherson City Commissioners were presented with the 2015 Annual Audit Report conducted by Swindoll, Janzen, Hawk and Loyd Monday during their regular meeting.
Scot Loyd, representing Swindoll Janzen Hawk and Loyd, reported they didn't find any areas of concern during their audit.
“That speaks well of your staff and you as a commission,” Loyd said. “We do a lot of work with internal controls and internal controls are so important. You're [the commission] part of that control process, the people in the different departments are part of that control process. If those controls are broken and pop up, that's what would end up [in the report]. That speaks well of your city.”
Loyd also pointed out that there were no Cash Basis law violations in the audit of the City's funds. That means that a Kansas municipality must have funds on hand to cover any indebtedness.
“That's probably the number one financial measurement of the state of Kansas,” Loyd said. “There are about [four exceptions to the rule]. So there's no cash basis.”
The commission expressed an interest in delving a little more in-depth into the report during a future study session. The board did accept the report on a 3-0 vote.