The Metropolis of Lindsay is happy to announce the completion of the 2020 Annual Monetary Audit for the fiscal yr ended June 30, 2020 and the ensuing issuance of the FY2019-20 Complete Annual Monetary Report (CAFR). The CAFR was formally offered to the Lindsay Metropolis Council at its February 23 Council assembly and is accessible to the general public by way of the Metropolis of Lindsay web site.
In accordance with Metropolis of Lindsay Municipal Code, the annual audit for the fiscal yr ended June 30, 2020 was performed by the unbiased accounting agency Badawi & Associates. The audit was performed in accordance with the Typically Accepted Auditing Requirements (GAAS) established by the Auditing Requirements Board.
The FY2019-20 CAFR included the next findings:
• The Metropolis of Lindsay acquired a clear, unmodified audit opinion with a non-compliance paragraph
• The Metropolis of Lindsay’s monetary statements offered pretty, in all materials respects, the monetary positions of metropolis governmental and business-type actions
• Because of the Metropolis of Lindsay’s efforts during the last fiscal yr to bolster its monetary capability and companies supplied to the group, the auditors eliminated a previous “going concern” remark from the CAFR
• The Metropolis of Lindsay’s basic fund budgetary outcomes (pp. 89-90) demonstrated vital enchancment
• The Metropolis of Lindsay’s effected income initiatives (1% gross sales tax measure and hashish gross sales) and different value containment measures put town on a constructive restoration path The favorable result’s a welcome excellent news and displays the Council’s proactive steps to enhance the Metropolis’s monetary state of affairs and outlook for the approaching years.
To view the FY2019-20 CAFR please go to www.lindsay.ca.us/finance/page/financial-audits