Problems with financial statements in Md. towns, auditors find; Hyattsville, Sykesville, Baltimore cited

By Charlie Hayward

For MarylandReporter.com

Some local governments in Maryland are having difficulty preparing adequate financial statements and getting good audit results, state auditors found.

There were 179 local government audit reports due for fiscal year 2012 — 25 counties and 154 cities and towns.

 

The Office of Legislative Audits (OLA) found in its report that five governments failed to obtain audits, and there were 64 instances of defective accountability. either in accounting or auditing. While most deficiencies were not material to the financial statements as a whole, the high number of problems indicates substantial room for improving financial accountability in Maryland’s counties, cities and towns.

Read more: http://marylandreporter.com/2013/10/02/problems-with-financial-statements-in-md-towns-auditors-find-hyattsville-sykesville-baltimore-cited/#ixzz2gmm0s5gt

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