STAMFORD – The 2022 annual audit report the city owes the state is woefully overdue.
It’s so delinquent that it’s almost time to file the 2023 audit report.
The lateness is considerable enough that Kimberly Kennison, an executive officer with the Connecticut Office of Finance, wrote a letter to Mayor Caroline Simmons on behalf of the Municipal Finance Advisory Commission.
“As a commission charged with working with municipalities to improve upon their fiscal condition and financial practices, the MFAC believes that the lack of timely audit reports is a serious matter and potentially a warning sign of financial challenges,” Kennison wrote. “Audits must be completed in a timely manner for management of the municipality, the governing board, and its citizens to make informed decisions that can be critical to the municipality’s financial plan.”
The letter, written a month ago, lists information the city must provide to avoid being designated for oversight by MFAC, made up of eight government and private finance officials appointed by the governor to guide municipalities toward fiscal health. Kennison requested information on the delinquent 2022 audit and the…
