MORGANTOWN, W.Va. — An audit of the city of Morgantown’s finances found no material misstatements, major deficiencies in internal control, or items showing noncompliance.
Fairmont-based Tetrick & Bartlett PLLC conducted the audit into the city, including the Morgantown Parking Authority, Morgantown Public Library, BOPARC and the Morgantown Utility Board.
City employees managed the finances without a director presiding over much of their efforts; Kevin Tennant became the city’s finance director last June.
“A very clean audit again, and I’m very proud of the finance staff. They had a tough year without a director and with COVID and everything,” he said . “I’m very happy with this audit.”
Tennant noted the audit also examined how multiple city accounts disbursed money to local agencies and organizations.
“I’m pleased to say they did not find any material instances of noncompliance or internal control issues,” he said.
Tennant noted a matter related to the Morgantown Parking Authority’s debt service coverage.
“Our debt ratio was below where it needed to be mainly due to COVID, but 2021 was a much better year for the Parking Authority and now our ratio is back above what the covenants say it needs to be,” he said.