Town of Vauxhall receives another clean audit report

Posted on April 20, 2023 by Vauxhall Advance

By Ian Croft

Local Journalism Initiative Reporter

news@tabertimes.com

With the Town of Vauxhall getting all their financial ducks in a row after approving this year’s budget they had Patrick Treadwell from MWG Chartered Professional Accountants provide them an audit report.

“That is a clean audit report,” said Treadwell when reading through the documents that were presented to council last week during the April 11 meeting. “That being said, we didn’t find any issues. No management letter points that we found. Clean on the report just means that everything is shipshape and everything works out properly. We’re happy with the work that we did, we’re happy with the statement. That’s why we can give a clean audit report. Like I said, these are your statements. There was a thought in the past where the auditor was coming in to present my statement, but we do want to change that, though, to where it is your statement because it’s based on your transactions, your bank, everything at the Town of Vauxhall. I’m just here to present to make sure that everything is disclosed properly, and how it’s kind of supposed to be shown.”

After this quick overview of the audit, Treadwell also went into detail about his responsibilities when it comes to his report.

“My responsibility is to make sure it’s free from material misstatements,” said Treadwell. “I assess the risk, the risks of material misstatement, look at your internal controls, your accounting policies, your procedures, and overall just kind of the presentation structure at the end there.”

Within the audit it shows that Vauxhall’s revenue was up to $3,241,475 in 2022 from $2,797,614 in 2021. Their expenses also saw an increase sitting at $3,133,248 in 2022 from $2,715,295 in 2021. Vauxhall’s financial assets now sit at $4,656,798 in 2022 from $4,172,844 in 2021. Finally, they saw a decrease in liabilities with it being at $2,361,098 in 2022 from 2,415,760 in 2021.