Salisbury, MD – Mayor Jake Day is pleased to announce that the annual Audit Report, prepared by Barbacane Thornton & Company, shows that the City continues to maintain a favorable financial position. It is the City’s sixth consecutive clean audit opinion, with no audit adjustments, and no new or existing findings under the leadership of Finance Director Keith Cordrey.
“This is another successful audit made possible by a proficient team of workers in the finance department,” said Mr. Cordrey. “We are also thankful for the excellent leadership from the Administration and Council which is necessary to bring it all together.”
The annual audit is a comprehensive examination of Salisbury’s financial operations. A “no-note” audit indicates that the financial machine within the City is functioning well, and internal controls are effective and being followed. Auditors determined that Salisbury’s 2022 financial reports fairly represent the City’s financial results in accordance with Generally Accepted Accounting Principles.
In the General Fund, the City reported an Unassigned Fund Balance of $12.2 million as of 6/30/22.
Mayor Jake Day once again praised Cordrey and the Finance team for the excellence of their work.
“Our Finance team continues to set the standard for municipal financial operations. For the sixth year running, this achievement not only reflects their diligence and stewardship of taxpayer dollars, but also puts us on the best possible footing to maintain our AA credit rating,” said Mayor Jake Day. “I congratulate Keith and the team for once again being recognized for their outstanding work.”
