City gets high marks in financial audit

After making significant changes to how it handles its finances, the City of Sisters got high marks in a recent financial audit.

Rob Tremper of the Pendleton CPA firm Dickey and Tremper said, "Overall I was very happy with this year's audit. We came in knowing that there had been significant changes in your operations and staffing. You had eliminated a position. We came in with a concern about how was this going to work through internal control processes.

"I think the city did a really good job of restructuring those duties and responsibilities. I think the internal control system still looks pretty strong, and in several areas they were even able to strengthen them, even having one less person," said Tremper.

Part of the firm's report highlights any major changes that reflect "infrequent, unusual events that are under the control of management."

According to Tremper, management is ultimately responsible for selection and use of appropriate accounting policies. The firm's job is to give their opinion on whether the financial statements as stated are materially correct.

"We are happy to say that we did issue that opinion. A clean audit," Tremper said. "The city went out and refinanced several loans and bonds and repaid urban renewal off early, and this year there was a change in government (accounting) policies."

The audit also reviews the status of each city fund.

"Water and sewer funds both have a positive net position. All (other) funds were in a positive fund balance except urban renewal. We were pretty happy overall," concluded Tremper.

The urban renewal fund has been refinanced since the audit.

The audit cover letter may be viewed here.