Salisbury CAFR Audit Report (2016-2017) Shows a City in Trouble. Large Transfers from the General Fund Continue to Fibrant Debacle

Posted on February 15, 2018



RFP Staff

♦ The City of Salisbury failed to get a boost from the latest Salisbury CAFR report (2016-2017) which shows a city in major trouble.  Large transfers from the City’s general fund to keep the Fibrant Debacle on life supports continue to curtail the city’s efforts to provide rudimentary municipal services and fight crime.  Fibrant’s weighty deficits continue as the city suffers under the iron heel of violent and property crime, 25% of its people dwell below the poverty line, Salisbury shows little economic development, a decaying water and sewer system, D and F schools inside the city limits, over 2,000 vacant and abandoned buildings, a major heroin, meth, crack, opioid and alcohol epidemic unrivaled by few other cities in North Carolina, and large segments of city’s working class and upper class are leaving for safer and more prosperous areas elsewhere.

In the near future we will provide an in depth report after we parley with our CPA friends:

http://salisburync.gov/Portals/0/Documents/Financial%20Services/Audits/Salisbury%20CAFR17.pdf?ver=2018-02-14-084018-007

Elliot Davis, signs off on the CAFR by mentioning a “deficiency in internal control, described in the accompanying schedule of findings and questioned costs as item 2017-001, that we consider to be a significant deficiency.”  Later on in the CAFR report signoff Elliot Davis stated: “The results of our tests disclosed instances of noncompliance that are required to be reported under government auditing standards and which is described in the accompanying schedule of findings and questioned costs as items 2017-001 and 2017-002.” (See below from page 158 of the CAFR):

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