Monday, October 16, 2023
Atlantic County Executive Dennis Levinson announced that for the 24th consecutive year, Atlantic County government has received an error-free independent audit of its financial operations and procedures.
“Few, if any, local governments in New Jersey, or perhaps the entire country, can match our record of performance,” stated Levinson, who oversees an annual budget in excess of $256 million. “We are extremely proud of our success and our ability to consistently provide outstanding management and financial integrity.”
The 2023 audit did not find any weaknesses or deficiencies in its review of financial transactions of the county treasurer’s office and the financial records of Atlantic County government offices and institutions.
The audit was conducted over a period of several months. Atlantic County uses a competitive bidding process to select an independent auditor and changes firms every three years.
Levinson, a former school teacher, explained that not changing auditors is like allowing a student to mark his own paper - he tends to score higher.
“We’re confident in our financial policies and procedures, but if something is not right, we want to know,” he said. “Our obligation is to our taxpayers.”
“Regardless of which auditor is performing the audit, the results have remained consistent due to our conservative fiscal management. Atlantic County is financially sound and continues to meet high expectations,” said Levinson.
The audit also acknowledged Atlantic County’s very low debt ratio, well below the statutory debt limit. This, along with Atlantic County’s top tier credit ratings, contribute to the county’s ability to support capital projects and improvements without placing the burden on taxpayers.
“While perfects audits are nothing new to Atlantic County, the fact that we’ve sustained them over a 24-year period with multiple independent auditors is certainly worth recognizing.”