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City auditor and finance director report: audit nearing completion, budget on track through November
Summary
Auditor John Aldridge told council the city audit is nearing completion and should be wrapped up in early January; Finance Director Margaret Lindsay reported revenues through five months are largely on target and highlighted line-item timing and Oracle reporting details.
John Aldridge of Brown Edwards presented Roanoke's year-end financial audit status on Dec. 16, saying the school board audit is complete, the pension audit is nearly complete, GRTC/Valley Metro is close to finishing, and the city audit is anticipated to be wrapped up in early January — about two months ahead of last year. Aldridge credited city staff for progress and offered to answer questions.
Finance Director Margaret Lindsay followed with a five-month budget snapshot through November, reporting revenues largely on target. She noted that real estate tax collections (current and delinquent) were near expectations, personal property collections typically lag, sales tax was flat year over year, cigarette taxes were outperforming budget, and interest earnings were ahead of the conservative forecast. Lindsay explained that some line items are not ratable over the fiscal year (for example, membership dues paid annually) and demonstrated Oracle-generated reports to show how budget components break down.
Lindsay offered to provide more detailed follow-up on any items council members requested and said department managers are adapting to the new financial system. Council thanked staff for the update and received the report for the record.
