The Gasparilla Island Bridge Authority Finance/Audit Committee met on Tuesday, Jan. 3, 2017 to discuss and analyze a draft of the annual audit report for fiscal year 2016.
Audit Committee Chairman Drew Tucker called the meeting to order. The committee consists of Tucker, Ginger Watkins, David Hayes, Gay Darsie and Bill Klettke.
GIBA independent auditor Tom Cramer from Suplee, Shea, Cramer & Rocklein, PA, went through the 16-page document in detail with the group.
Cramer said there were no serious findings to disclose in the financial highlights and that the audit opinion is “unmodified.” He noted that there was “favorable cash flow from the year before,” and that increase came from the completion of the swing bridge.
This will be the last year that the additional single audit will be required since the bridge construction was completed in fiscal year 2016. Changes will be made on the draft audit and a final version will be presented to the GIBA board for approval at the next quarterly board meeting, planned for Wednesday, Feb. 15.
GIBA Executive Director Kathy Banson-Verrico said the management report is designed to provide citizens, customers and creditors with a general overview of the Bridge Authority’s finances and to show accountability for the money it receives.