FOR IMMEDIATE RELEASE
April 8, 2014
Contact: Mike Kanarick
802.735.7962
Mayor Miro Weinberger Announces First Clean Audit Report for Burlington International Airport in More Than 10 Years
Burlington, VT – Mayor Miro Weinberger today announced that the Burlington International Airport received a clean audit report for the first time in more than 10 years. The auditors issued no “findings” – or identifications of errors or deficiencies – and noted that the Airport exceeded its debt coverage score for the third consecutive year.
“Improving the City’s financial management continues to be the top priority of my Administration,” said Mayor Weinberger. “I am pleased with the clean audit report, demonstrating our steady and important progress at the Airport – formerly a financial vulnerability that gradually we are transforming into an economic asset for our City and the region.”
The audit process for a large entity like the Airport includes a Financial Audit, a Management Letter, and a Single Audit. The Financial Audit focuses on the accuracy of the entity’s financial statements; the Management Letter analyzes any findings; and the Single Audit, which includes the entire City and Airport, examines the use of Federal and State Grants, Passenger Facility Charges, and Bond Compliance. This year, there were no findings on either the Airport’s financial audit or Single Audit.
“This year’s clean audit is another milestone in strengthening the Airport’s financial position,” said Gene Richards, Director of Aviation at Burlington International Airport. “It demonstrates the great teamwork of Airport and City financial staff.”
*The following documents are available on the City’s website:
- Airport Audited Financial Statements
- Single Audit
- Complete City Audited Financial Statements for Fiscal Year 2013
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