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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. # # #