The Casper City Council listened as City Manager Carter Napier explained auditing of the Casper Events Center during their Tuesday, March 26 work session.
A memo from Financial Services Director Tom Pitlick and Parks and Recreation Director Tim Cortez included in the Council’s work packet explained the auditing. It says that the City entered into an agreement with Global Spectrum, L.P., who does business as Spectra Venue Management, in October 2016 to manage the Events Center.
Global Spectrum retained the accounting firm Porter, Muirhead, Cornia and Howard to conduct an annual audit for FY 2016/2017, the memo states.
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“We got an audit back that was almost historically troubling,” Napier said during the work session. “We are in a much better position now than we were a year ago.”
“The initial audit for the period end[ing] June 30, 2017 revealed a number of internal control deficiencies, financial misstatements and overall poor condition of the accounting records,” says the memo. “This resulted in the auditing firm being unable to express an opinion as to the accuracy of the financial statements.”
After the Events Center underwent changes to their financial leadership, PMCH was again asked to review the Events Center’s financials to determine whether the problems had been addressed, the memo continues.
That review was completed for the period ending March 31, 2018.
“The results were encouraging and indicated acceptable progress in the areas being reviewed,” says the memo.
The FY 2017/2018 audit report has now been completed and PMCH reviewed the report with the City’s Finance Committee during a Feb. 19, 2019 meeting, the memo states.
“No material weaknesses nor significant deficiencies were noted in the report,” the memo reads. “Overall the report would indicate vast improvement in the financial management and internal control compliance from the prior year.”
The report is included in the Council’s work packet. It reviewed the Casper Events Center’s as well as the Hogadon Lodge Restuarant’s operations. Global Spectrum manages both the Events Center and the restuarant. The report was issued on June 30, 2018.
“I was really critical of you guys when this audit first came out and I really appreciate what you guys have done to get it back on track,” Councilman Chris Walsh told representatives from Global Spectrum who attended the work session.