News and Announcements

Posted on: July 5, 2016

More good financial news: Town earns budget award, no changes to year-end audit required

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The Town of Castle Rock has a strong tradition of accurately and transparently communicating financial information to the public, and the tradition continues, according to two recent independent evaluations.

There are two ways the Town’s finances are evaluated each year – an independent year-end audit and an evaluation of the Town’s budget document by the Government Finance Officers Association. Both had good news to share for 2016.

Independent auditing firm Eide Bailly, LLP presented its audit of the Town’s Comprehensive Annual Financial Report (CAFR) to Town Council June 21. The CAFR is published annually and details all of the Town’s assets, expenditures, debt capacity and debt repayment, along with operating and budget information, and much more.

The independent audit indicated the Town’s financial statements are fairly stated, and no changes to 2015 finances are required. This audit is based on an extensive review of Town documents and numerous site visits to document cash handling, revenue streams, procedures performed by various departments and more.

In addition, the Town’s 2016 Budget document was recognized by the Government Finance Officers Association’s Distinguished Budget Presentation Award. This award is the highest form of recognition in governmental budgeting, and it’s the highest award the Town has ever received for its budget document.

The award represents a significant achievement and reflects the Town’s commitment to meeting the highest principles in governmental budgeting, according the association. In order to receive the award, the Town had to satisfy nationally recognized guidelines for effective budget presentation. In addition, the Town’s budget document earned special recognition for the way it is designed to help attain the Town’s mission, goals and objectives.

“Financial transparency and reporting is of utmost importance to the Town,” said Finance Director Trish Muller. “We want our residents to know how seriously we take our responsibility as stewards of public funds. While we are confident in our financial management practices, it’s always important to have an outside audit and another organization evaluate our budget document. We’re extremely proud of the work we do.”

Get information on the 2016 Budget at CRgov.com/2016Budget.
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Learn more about the 2016 Budget.
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