HomeMy Public PortalAboutTOL PR 2015-12-16 Audit
Town of Leesburg
News Release
For Immediate Release Media Contact:
Betsy Arnett, Public Information Officer
barnett@leesburgva.gov 703-771-2734
Leesburg Receives Clean Audit Report for Fiscal Year 2015
FY 2015 Comprehensive Financial Report Available on Town Website
Leesburg, VA (December 16, 2015) – The Fiscal Year 2015 Comprehensive Annual Financial
Report (CAFR) and audit report was presented to the Leesburg Town Council on Tuesday
December 8, 2015. The audit was conducted by PBMares, LLP, a public accounting audit firm
that specializes in audits of local governments in Virginia.
The Town received a clean audit report which means there were no material findings of
problems with the financial statements, internal controls, fraud, or noncompliance with
regulations or debt covenants. The only significant changes to the financial statements from
the previous year are the addition of the Town’s Internal Self-Insurance Fund for healthcare and
new Governmental Accounting Standards Board (GASB) accounting requirements for accrued
unfunded pension liabilities.
“The successful completion of the CAFR was the result of outstanding efforts by Department of
Finance and Administrative Services (DFAS) staff, as well as support from many departments
town-wide,” said Kaj Dentler, Leesburg’s Town Manager. “Despite staff turnover and
vacancies, DFAS produced the CAFR about a month earlier than last year.”
According to Michael A. Garber, CPA, MBA, and partner with PBMares, LLP, who presented the
CAFR and audit report, the Town remains fiscally sound and is on track for funding its policy
goals and long-term fiscal sustainability plan. The FY 2015 CAFR is available on the Town’s
website at www.leesburgva.gov/government/departments/finance/financial-reports-cafrs.
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