State Board Issues Positive Report of City of Bloomington’s Financial Statements for Fourth Consecutive Year

(BLOOMINGTON) – The Indiana State Board of Accounts has carried out its required annual audit of the City of Bloomington’s 2018 Annual Financial Statements and Federal Funds Report.  State statute directs the state board to audit all governmental units within Indiana that receive and distribute federal funds. The auditor’s reports determined that the City’s financial statements accurately presented the financial position and results of the operations of the City. The State Board has issued the City a report of positive compliance annually since 2015.

The City publishes its Annual Financial Reports (AFRs), along with the audited financial statements, at its website.  Prior to 2009, the AFR was referred to as the Comprehensive Annual Financial Report (CAFR), and past reports are available at the same address.  Additional budget information can be found at B-Clear, City of Bloomington’s Open Data Portal.

“We are pleased with the results of the audit,” said City Controller Jeffrey Underwood.   “The City is committed to continuing diligence in meeting the requirements set by the State and Federal governments and transparency in publishing the financial activities and reports of the City.”

The state’s determination of the City’s fiscal integrity corresponds with the City’s stated commitment to transparency and accountability of government operations.  In January 2016, Mayor John Hamilton convened a three-member Fiscal Task Force to review fiscal operations, systems, protocols and resources in the City.  In a report presented in July 2016, the group shared its findings and made recommendations relating to fiscal and internal controls, among other topics.  The City’s positive compliance with state and federal accounting standards and the accessibility of its financial statements represent ongoing efforts to steward public funds responsibly.

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