Auditor Steve Kietzmann was quite complimentary when he presented Terrace Council with the results of their 2018 financial audit.
On behalf of Carlyle Shepherd and Co., Kietzmann says that, in his unqualified opinion, Terrace’s financial statements are accurate and the City is in good financial standing.
In a report to council, the audit identified 10.6 million dollars in net financial assets, should the city liquify everything.
2018 operating surplus increased over the previous year by roughly 600 thousand dollars.
In addition to complimenting their current financial standing, Kietzmann also assured Council that there were no contingent liabilities or upcoming monetary issues that he is aware of.
