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City receives mixed news on financial audit – Port Isabel-South Padre Press

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By DINA ARÉVALO
Port Isabel-South Padre Press
editor@portisabelsouthpadre.com

The City of Port Isabel is continuing to play catch-up as it tries to bring its financial audits up to date. It moved one step closer as the City Commission heard the results of an audit of the City’s finances for the fiscal year ending Sept. 30, 2016.

It was mixed news for the City, as the auditors delivered high marks in some areas of the City’s accounting, while also delivering a criticism of its recordkeeping for fixed assets. The City also reported a $93,000 deficit of its general fund for that year, the auditor said.

“We issued a modified opinion which is the highest opinion you can get, that we’re saying that the general fund, your hotel/motel tax fund, visitors events center, and your economic development corporation is presented fairly. So you received a high opinion on that,” said a representative from the accounting firm, Pattillo, Brown & Hill.

“However, we also issued a qualified opinion. And basically, what this is says is we were not able to reach a comfort level as far as a total amount of the fixed assets,” he continued.

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