The Port of Shelton received a clean audit opinion from the Washington State Auditor’s Office. According to a news release, the audit focused on the 2024 Financial Statement and Accountability. This year the audit examined the following areas which are those representing the highest risk of fraud, loss, abuse, or noncompliance:
- Cash receipting – timeliness and completeness of deposits
- Payroll – gross wages and leave accruals
- Open public meetings – compliance with minutes, meetings and executive session requirements
- Financial Condition – reviewing for indications of financial distress
The Port received no findings or management issues. Findings or management issues would indicate a
deficiency, material weakness, or misstatement discovered during an audit, which the auditor is required to report.
“Once again I commend my team with the positive results of this audit,” said Wendy Smith, Executive Director, complimenting both her staff for their hard work and diligence to the day?to?day operations and also the Commission for their leadership. “Financial responsibility is at the top of our priorities in all Port operations and allows us to continue to have successful and clean audits.”
Smith also complimented the State Auditor’s Office, “Like last year, the actual cost of the audit was approximately $4000 less than the estimate due to the efficiency of the State auditors and Port staff. I
want to thank the competent and professional audit team for providing credit for clean work and sound
fiscal processes.”
Smith added that she is excited to pass on these savings to the district taxpayers.