A Look Inside La Plata's Financial Processes.
By: Paul Guttenberg, Candidate for Town Council Ward I
Hello La Plata Neighbors,
This week, the Town Council received the results of our annual independent financial audit. You might be wondering, "What does that actually mean?" Let's break it down!
What's an Audit, Anyway?
Think of it as a financial check-up for the town. An independent team of experts (our auditor) carefully examined La Plata's financial records to make sure everything is accurate and follows the rules. It's a bit like a physical when the doctor checks your blood pressure and listens to your heartbeat. The town is required to conduct a yearly independent financial audit and make the results public.
Important Note: While the audit checks the accuracy of our records, it's not a complete picture of our financial health. A financial health assessment would be a broader look at our long-term financial stability and future plans.
What the 2024 Audit Did Tell Us:
Financial Accuracy: Our auditors found NO major problems! They confirmed that La Plata’s financial statements are trustworthy and follow Generally Accepted Accounting Practices (GAAP).
Solid Processes: They verified that La Plata has good financial controls in place.
No Red Flags: No signs of fraud were detected.
Smooth Process: Our town staff communicated well with the auditors, ensuring a smooth and efficient audit.
Why This Matters to You:
This audit gives us confidence to trust that the financial information used to make important decisions about La Plata by our Town Council is accurate and reliable. It's a testament to the hard work of our town staff and the Finance Committee, who work to manage our resources responsibly.
Looking Ahead:
The Finance Committee is in full swing supporting town staff in building budget estimates and making process refinements to prepare for the upcoming FY 2026 budget build.
Call to Action:
Want to see the full audit report? Visit the Town website:
View the next Town Council or Finance Committee meeting.
If you have read this far, thank you for being an engaged La Plata resident!