PORT TOWNSEND — A preliminary audit presented to the Port Townsend City Council on Wednesday states that many of the city’s previous financial problems continue to exist.
“This is not unique to Port Townsend,” said Brian Taylor, a representative of State Auditor Brian Sonntag, at the special meeting.
“A lot of cities are forced to take extra measures in order to deal with the economy.”
“It was about what we expected,” Mayor David King said.
“The audit is based on data from 2011 and doesn’t reflect the issues we have addressed in 2012.”
The report recognizes this.
“We noted that the city continues to take steps toward improving its financial condition,” it states.
“No additional debt was issued in 2011,” the report continued, “a bond refunding in 2012 assisted in lowering future debt interest payments, and the city passed a utility rate increase in 2012.”
The audit report recommends that the city establish a formal financial plan to address
cash flow issues, monitor and evaluate financial activities to make sure the plan is being followed, make sure that all financial information presented to the council is accurate and take prompt action to manage operations within available resources.
“The more of these things you can do, the greater our comfort level will be,” Taylor said.
To link to the draft Auditor report and the city’s response, visit http://tinyurl.com/8rbbjk5.
Jefferson County Reporter Charlie Bermant can be reached at 360-385-2335 or at charlie.bermant@peninsuladailynews.com.
