No problems found in annual township audit
By Lisa Brody
Bloomfield Township received an unmodified opinion on each of its financial statements, the highest form of assurance, for its fiscal year 2020-2021 independent audit by financial services firm UHY, LLP, and township trustees unanimously accepted the audit at their meeting on Monday, November 22.
Michael Santicchia, CPA and partner, and Marlene Beach, CPA, principal, presented a summary of the independent audit of the overall government activities, every major fund and business-type activities for the year ending March 31, 2021. Santicchia said for the first time they had to go through a single audit in addition to auditing several funds, because the township had received a government expenditure of more than $750,000 in a given year, which had been for COVID-19 relief funds, part of the CARES act.
“We gave an unmodified opinion for the audit, the highest opinion we can give,” he stated. “As detailed in our independent auditor’s report, for each entity issued an unmodified opinion on each of the financial statements.”
He explained it is up to management to develop accounting policies, and they make sure the township is following the policies. He said there were no audit adjustments, difficulties or disagreements with managment during the audit.
“We did conduct fraud interviews with management and a trustee. There were no instances of fraud reported,” he emphasized.
Beach said the only negative fund balances were caused by OPEB and pension fund liabilities.
“Your policies you have in place are working sufficiently,” Santicchia said.