SUGAR LAND (Covering Fort Bend News) – A recent external audit of Sugar Land’s financial statements for fiscal year 2017 (Oct.1, 2016, through Sept. 30, 2017) received the highest level of assurance that the information presented is reliable. The audit was performed by Whitley Penn, LLP, the city’s external audit firm.
According to the audit report contained in the Comprehensive Annual Financial Report, the city of Sugar Land’s financial position is healthy. At the end of the fiscal year, the city is able to report positive balances in all categories of net position – for the government as a whole, as well as for its separate governmental and business-type activities.
The city also implemented new reporting requirements mandated by the Governmental Accounting Standards Board. These changes are reflected in the CAFR.
Audit results can include recommendations – known as management comments – for improvements to policies and procedures that will enhance the internal control structure of the City. There were no management comments reported by the auditors.
“We are proud of the fact that Sugar Land received an unmodified or ‘clean’ opinion with no management comments once again this year,” said City Manager Allen Bogard. “The completion of the audit without any management comments is a reflection of strong internal controls and processes. This is an important part of our objective to provide the quality services our citizens expect while maintaining one the lowest tax rates in the state. I am proud of all of our staff members who contributed to this accomplishment.”
The external audit is required by the city’s charter and state law. The fiscal year 2017 and prior years’ audited financial reports are available on the city’s website at http://www.sugarlandtx.gov/1473/Financial-Transparency.