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With fiscal year 2015 officially in the books, the City of Pocatello Finance Department is in the beginning stages of its annual audit of the City’s finances.
Officials will be working with accounting firm Deaton & Company, Chartered on the report mandated by the State of Idaho.
“We are constantly looking at our finances,” said Chief Financial Officer Joyce Stroschein. “The annual audit provides us the opportunity to look back at the year as a whole with a third party.”
The audit team will review transactions from fiscal year 2015 to ensure control procedures are followed.
“The results of this audit help to determine our credit worthiness,” Stroschein explains. “The rating impacts interest rates on bonds, what grant money is available to us, and more.”
The City of Pocatello’s current rating is considered very strong at Aa2. The highest possible rating is Aaa1.
Results of the audit will be available March 2016.