Oro Valley has received a clean audit opinion from public accounting firm Heinfeld, Meech & Co., P.C., for the fiscal year 2013. The firm found no audit deficiencies or concerns durng the process.
“This audit should give residents peace of mind that an outside firm has extensively reviewed our financials, internal control measures, and other related items and found that we are in conformance with the highest standards,” town manager Greg Caton said in a news release. “We take financial matters very seriously and are pleased to have our great work validated.”
The town ended the fiscal year with a $1.7 million surplus in the general fund. Construction and retail sales taxes, which were boosted by increased development activity, contrbuted to the surplus, which has been carried to fiscal year 2014 and will be invested in capital projects.
Also, the Government Finance Officers Association awarded the town its fifth consecutive Distinguished Budget Award.