Each year, Lassen Municipal Utility District undertakes a thorough audit of its financial assets and accounting procedures. The 2012-13 fiscal year audit was conducted by the accounting firm, Baker Tilly Virchow Krause, LLP. The resulting financial statements were presented to the LMUD Board of Directors on November 26th, as part of the regular monthly meeting.
“This year, as in years past,” explains Energy Services Manager Theresa Phillips, “LMUD received an unqualified opinion from the auditors.”
Unqualified opinions are considered to be the highest assurance of quality that can be given.
Auditor J.T. Friedl explained to the LMUD board that by giving an unqualified opinion to the district, they are stating that the auditors did not find any discrepancies or flaws within LMUD’s financial statements.
The auditors found that the district operates with zero long-term debt.
A statement released by the utility this week said that the auditors were pleased to report that the district is in excellent financial health and also assured the board that the district is being operated in a fiscally sound matter. They commended both the staff and the board for their hard work and dedication to the financial health of the district.
LMUD’s audited financial statements can be viewed or downloaded on the LMUD website, www.lmud.org under the financials tab at the top of the home page.
