Thursday, September 19, 2019
For the 20th consecutive year, Atlantic County government has received an error-free independent audit of its financial operations and procedures.
“No county in New Jersey, or perhaps the entire country, can match our performance,” stated County Executive Dennis Levinson, who oversees an annual budget in excess of $200 million. “We are extremely proud of our success and the reassurance that our outstanding management and financial integrity provide our residents.”
The 2019 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 by the fifth independent auditor in the last 20 years. During this time, the county also had three different treasurers.
Atlantic County uses a competitive bidding process to select an auditor and changes firms every three years.
“Regardless of the auditor or county treasurer, the audit results remain consistent due to our conservative fiscal management. Atlantic County is financially sound and continues to meet high expectations,” added Levinson.
The audit acknowledged Atlantic County’s very low debt ratio, less than one-half of one percent, well below the statutory debt limit. This contributes to the county’s ability to support capital projects and improvements such as the construction of the first building in the National Aviation Research and Technology Park and Stockton University’s Atlantic City campus, as well as backing a $3 million loan to help Boscov’s remain in business and save hundreds of local jobs.
‘Few, if any, have a record of performance like ours,” said Levinson. “During my time as county executive it could be said Atlantic County is 20-0.”