The Office of the Washington State Auditor recently conducted financial and accountability audits for PenMet Parks for the two-year period of Jan. 1, 2023 to Dec. 31, 2024.
For both audits the State Auditor’s Office found PenMet Parks complied with applicable laws, regulations and District policies and provided adequate controls to safeguard public resources.
No deficiencies were found in PenMet Parks’ internal controls over financial reporting, or any instances of noncompliance or other matters that are required to be reported under the Government Auditing Standards.
Financial audits address risk like the possibility of management circumventing certain controls, which is why the auditor reviews whether management can override transactions.
The audit did not identify this risk or any unusual transactions for the period reviewed.
Accountability audits assess whether public funds and assets are protected and accounted for, and governments are following applicable laws, regulations and their own policies. As part of the audit, a risk assessment was performed and the audit examined areas that represented the highest risks of fraud, loss, abuse or noncompliance. Areas examined included:
- Procurement: Pblic works, purchases, purchasing exemptions and purchased services.
- Accounts payable: General disbursements.
- Open public meetings: Compliance with minutes, meetings and executive session requirements.
- Financial condition: Reviewing for indications of financial distress.
We are pleased to conclude this audit period and appreciate the work of PenMet Parks Director of Finance Jessica Wigle and the team from the State Auditor’s Office for the thorough review.
The next financial and accountability audits for 2025-2026 are expected to begin in fall 2027.