NEW CASTLE, DE — In case you missed it, New Castle County Executive Matt Meyer announced on March 13, 2024, the eighth consecutive clean external audit of the county’s finances under his administration. The audit, conducted by the reputable accounting firm CliftonLarsonAllen (CLA), offers the highest level of assurance to taxpayers about the county’s financial health.
A clean audit, in essence, signifies that the financial statements presented by the county are free from material misstatements and inaccuracies. It is an indication of sound financial management and transparency, providing reassurance to taxpayers that their funds are being handled diligently and responsibly.
The CLA’s audit report revealed that New Castle County’s government has successfully increased fund balances by over $150 million in the past four years. A fund balance, often considered a rainy-day fund, is a crucial indicator of financial stability. It can be used for unexpected expenses or losses of revenue, mitigating the need for borrowing or tax increases.
This impressive increase in fund balances reflects the effectiveness of the Meyer administration in managing public funds. It also provides the county with a significant financial cushion, enhancing its ability to weather economic downturns or unforeseen expenditures.
Further bolstering the confidence in the county’s fiscal management, this clean audit coincides with the first-ever property tax reduction for county residents. This achievement underscores the Meyer administration’s commitment to ensuring that taxpayer funds are invested wisely and that residents receive value for their contributions.
“We are proud of the fact New Castle County taxpayers have their hard-earned taxes invested in the best libraries, parks, and public safety, all while being able to provide County residents with their first-ever property tax reduction,” said County Executive Matt Meyer. He expressed gratitude towards CLA, the New Castle County Auditor, and the finance department for their diligence and hard work on the audit.
The implications of this clean audit extend beyond just the numbers. It reinforces the trust between the county and its residents, demonstrating that the Meyer administration is managing public funds effectively and transparently. This positive financial health allows the county to invest in vital public services, enhancing the quality of life for all residents.
The consecutive clean audits under the Meyer administration signal its commitment to fiscal responsibility and transparency. As New Castle County continues to navigate the economic landscape, these robust financial practices will undoubtedly play a critical role in ensuring the county’s continued growth and prosperity.
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