City of Waldorf audit report

On February 6, Waldorf residents were provided an update on their city’s annual audit report from financial company Clifton Larson Allen.

A result of the large amount of funding received for the street and water sewer project is a larger, more extensive audit process, analyzing up to 13 different elements of compliance. 

Here is what was reported Monday:

Regarding fiscal transactions from 2020-22 it has recently been realized that expectations for federal compliance began in 2020 on “day one” of the application process for the federal dollars. When this was realized partway through the audit process, auditors added those records to the ones needing review.

The city is in compliance and on good footing with the various agencies which would need to approve any future funding. 

Here are the highlights:

Long-term financing gained in 2022 will mean future audits will be less complex

The city’s “general” operating fund is in a very good financial position 

The city “broke even” in 2021 and received about $100,000 in extra state grant funding.

Property taxes are being paid on time, including notifications of past-due balances. In 2021, more than $3,000 from overdue taxes was collected.

The Community Center fund is breaking even for 2021

Auditors suggest implementing a “procurement policy” for federal dollars for phase 2 of the infrastructure plan. 

At the conclusion of the audit presentation from CLA, an audience member asked, “Did we pass?” 

The response was“Yes.” CLA’s findings are that the city of Waldorf is on solid footing, and in a good place going forward.