October 18, 2022
Richland, Wash. – Port of Benton has received an unmodified audit opinion on its fiscal year 2021 financial statements from the Washington State Auditor’s Office. The auditor’s office reported no deficiencies in the design or operation of internal financial reporting controls and the financial position of the port as of December 31, 2021.
Because the port expended more than $750,000 in federal funds last year, the audit also examined compliance and internal controls for those federal dollars.
Additionally, the state auditor’s office performed an accountability audit for fiscal year 2021, examining whether the port was in compliance with applicable state laws, regulations, and its own policies, and provided adequate controls over the safeguarding of public resources. No opinion is expressed over the effectiveness of the port’s internal controls, however no findings were reported.
The state auditor’s office provides citizens with independent and transparent examinations of how state and local governments use public funds. Audits are performed annually to ensure accurate handling of tax dollars and appropriate procedures and reporting.
“Port of Benton implemented an enhanced financial system and methods of record-keeping and reporting in recent years, which have greatly improved efficiencies for the entire port team,” said Christy Rasmussen, port commission president. “The clean audit report validates the team’s dedication and hard work during that major transition.”
Port of Benton holds an Aa3 bond rating from Moody’s on its 2021 bonds.
View the full audit report here or visit portofbenton.com/about-the-port/planning-and-finance.