2017-04-21 / Business

Richland County receives clean audit

Contributed by Richland County PIO

Richland County Council met in closed session Thursday to discuss the county’s financial management amid issues raised by the county’s auditors after completing the annual audit.

The results of the annual audit are reported in the Comprehensive Annual Financial Report ( CAFR). The county’s financial statements for the 2016 fiscal year that ended June 30 came back “clean.”

The auditors’ finding of “clean” is a positive finding that attests the county’s financial records accurately reflect the county’s financial condition. The county recently earned a triple-A credit rating from national credit rating agencies.

In addition to the audit, the county auditors also conduct a review of management practices. While the auditors concluded the county’s financial records are “clean,” they suggested several areas for financial management improvements.

Amid discussions between Richland County Council and Richland County Administrator Gerald Seals about the suggested management improvements, the county’s then-chief financial officer submitted his resignation. The resignation, which was not requested by the administrator, was effective April 12. According to Seals, the resignation has no effect on the biennium budget process underway or other financial matters.

Assistant Richland County Administrator Kevin Bronson is serving as the temporary finance director as the county conducts a national search for a new finance director. Assistant County Administrator Sandra Yudice is overseeing the county’s management and budget functions. They, along with Seals, have diverse experience in local government financial operations and are reviewing management issues within the finance department.

To review past audit reports and other financial information, visit www.rcgov.us and click on the “Financial Reporting” button on the right side. Audits are included in the CAFR. The 2016 audit will be posted upon completion of the county’s internal review.

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