22 Dec Port of Kennewick Receives Another Clean Audit
20th consecutive report with no findings
Kennewick, Wash. – The Port of Kennewick’s financial, accountability and compliance audits for the years 2013 and 2014 were conducted by CliftonLarsonAllen and the Washington State Auditor’s Office (SAO). The state auditor indicated that both 2013 and 2014 reviews were clean, complete and accurate; with no audit findings.
This time, auditors undertook a comprehensive review of all revenues, expenses, assets, and liabilities to ensure the Port is following established accounting standards. In addition, data was reviewed to ensure the Port is accurately reporting financial statements. The auditors also combed through files related to payroll, cash receipting, leases, procurement (bidding and prevailing wages), payments and expenditures. And extra work was done to review for and ensure there had been no fraud—with the SAO determining Port of Kennewick has strong internal financial controls in place.
The SAO conducted the accountability and compliance audit; and CliftonLarsonAllen conducted the financial audit, which SAO then reviewed for accuracy and accountability—all with no audit issues or findings.
According to Tammy Fine, a Certified Public Accountant (CPA), Certified Fraud Examiner (CFE) and the Port’s chief financial officer, this marks the 20th consecutive year the Port of Kennewick has received no audit findings (a finding would indicate material deficiencies within the organization). Stated Ms. Fine, “The reality is that these days there seems to be an increasing amount of public distrust of government—that’s why these audits are important. Twenty years of consistently clean audits indicate that Port of Kennewick is operating with high ethical standards and has the necessary internal controls to ensure an accurate and accountable use of public funds,” stated Ms. Fine.
The State Auditor’s office regularly reviews the Port of Kennewick’s financial records and procedures to ensure complete and accurate reporting; that tax dollars are spent properly; there is no misuse of public funds; and that the organization follows state, local, and federal laws, along with its own policies and procedures. In addition, the SAO will often use external contractors such as CliftonLarsonAllen, a nationally recognized public accounting firm, to ensuring both timely and comprehensive financial audits. According to the SAO Report on Accountability, “Independent audits provide essential accountability and transparency for Port operations. This information is valuable to management, the governing body and public stakeholders when assessing the government’s stewardship of public resources.”
“Here at Port of Kennewick we recognize that we are stewards of the public’s trust and resources, and we strive to uphold the highest level of integrity in all of our operations,” stated Tim Arntzen, the Port’s chief executive officer. “A clean audit is key to assuring our taxpayers that we take our fiduciary duties seriously, and that we are using taxpayers’ funds to benefit the community.” The SAO’s full report is available online at the Washington State Auditor’s Office.