IE Business Daily Business news for the Inland Empire.
Riverside is in solid financial shape.
The city was given “a clean bill of health” from a group of independent auditors who reviewed its financial data, including grants it received from the federal and state government, according a statement.
The audits, by Macias, Gini & O’Connell LLP, also examined the town’s system of internal controls. They concluded that Riverside’s financial statements were presented fairly and were in compliance with “generally accepted” accounting practices.
“These findings are a vote of confidence by the outside, independent auditors on the City’s leadership over its finances,” Mayor Rusty Bailey said in the statement. “It is really the best news you can get from an auditor.”
In effect, the audits concluded that it’s spending its money – federal, state and local – properly and responsibly. They did not recommend any changes or identify any areas of concern.
Macias, Gini & O’Connell, also known as MGO, is a certified public accounting firm. It has eight offices and about 250 employees in the western United States, according to the company’s website.
