The city’s annual audit report, prepared by Barbacane Thornton & Co., shows that Salisbury’s government continues to maintain a favorable financial position.

It is the city’s fifth consecutive clean audit opinion, with no audit adjustments, and no new or existing findings.

“It takes the entire Finance Department team following best practices in order to have a successful audit like this,” said city Finance Director Keith Cordrey. 

The annual audit is a comprehensive examination of Salisbury’s financial operations. A “no-note” audit indicates that the financial machine within the city is functioning well, and internal controls are effective and being followed.

Auditors determined that Salisbury’s 2021 financial reports fairly represent the city’s financial results in accordance with Generally Accepted Accounting Principles. 

The city reported $3.2 million was returned to surplus in the General Fund, resulting in an Unassigned Fund balance of $12.6 million as of June 30.

No new bonds were issued during fiscal 2021.

Day praised Cordrey and the Finance team for their diligence and stewardship of taxpayer dollars. 

“Keith and his team continue to set the standard for municipal financial operations,” Day said. “For the fifth year in a row, their meticulous adherence to best practices and strict internal controls has produced an audit with no adjustments or suggestions for improvement. It is an achievement that not only reflects the consistent excellence of their work, but one that helps put us on the best possible footing to maintain our AA credit rating.”