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Audits

Each city with a population of 2,000 or more is required to have an annual audit conducted of each financial fund of the city. An audit report of the previous fiscal year must be conducted by no later than February 1 each year.  The city must send an electronic copy to the Department for Local Government within 10 days after presentation to the city's legislative body, but no later than March 10.

Cities with populations of less than 2,000 must have an audit performed after the close of each odd-numbered fiscal year, instead of annually. The audit must be completed in the same fashion as the annual audits outlined above. In even-numbered years, these cities must sitll prepare a financial statement and send an electronic copy to the Department for Local Government by October 1 following the end of the fiscal year.

A few cities may not have to complete an audit for any fiscal year. A city that for any fiscal year receives and expends less than $75,000, from all sources and for all purposes, and has no long-term debt is not required to complete an audit. These cities must still prepare a financial statement and send an electronic copy to the Department for Local Government by October 1 following the end of the fiscal year.

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