Improved Internal Controls and Asset Inventory List

The City of New Albany is taking additional steps to enhance its internal financial controls. As defined by the Department of Local Government Finance, internal control is a process executed by officials and employees that is designed to provide reasonable assurance that the objectives of a political subdivision will be achieved. While the city has strong internal controls currently in place, we are working to standardize and provide a uniform control procedure for all departments that will mirror other similar communities throughout the state.

The City has partnered with Crowe Horwath, a professional CPA firm who has assisted other communities in improving their operations and internal controls. Internal controls provide mechanisms for more government accountability and transparency, encourages efficient use of government time and resources, and can help reduce operating costs. 

Additionally, the City has partnered with T.M. Wells Valuation Services to improve and standardize our asset inventory list. This list will document all assets (vehicles, equipment, computers, etc.) that are owned, managed, or otherwise used by city departments. This improved and standardized inventory will assist in providing a record of valuable assets for accounting and tracking purposes and can lead to reduced operational costs.

“The City of New Albany controller’s office, along with the department directors, are working every day to improve performance standards and efficiencies in every way,” stated Mayor Jeff Gahan. 

###