Rehmann Robson, the auditing firm for Hastings, reported on the outcome of its 2016-2017 fiscal year audit of the city’s financial practices and gave the city a “clean opinion,” which they compared to a grade of “A,” City Manager Jeff Mansfield said.
The report in part read, in their opinion, the financial statements prepared by the city staff presented fairly the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information… in accordance with accounting principles generally accepted in the United States of America.
Also, “the respective changes in financial position and, where applicable, cash flows thereof and the respective budgetary comparisons for the general fund and each major special revenue fund for the year then ended were in accordance with the principles,” the report said.
“Essentially, that means that they found the City’s financial statements for FY 16/17 to be in order, to reflect what the City did during the year along with the resultant changes in financial status, and to have been prepared in accordance with the appropriate laws and standards,” Mansfield said.
Changes in the city’s internal controls recommended by Rehmann following the malfeasance of a former employee have been, or are being implemented, Mansfield said.