An independent audit concluded the Utah Inland Port Authority (UIPA) has complied with all state requirements for financial reporting, budget, and the Open and Public Meetings Act. Squire & Company, PC reported that the financial statements audited “present fairly, in all material respects, the respective financial position of the governmental activities and the general fund” of UIPA.
UIPA is required by law to provide an annual audit of its financial statements and state compliance by a Certified Public Accountant in accordance with generally accepted auditing standards. The report is designed to provide citizens, taxpayers, customers, and investors and creditors with a general overview of the finances of the Authority.
“We embrace these independent audits to make sure we’re meeting our financial requirements, as well as meeting the public expectations of a public agency,” said Jill Flygare, Chief Operating Officer for UIPA. “A key objective of ours is to be a responsible custodian of public resources and this audit confirms we are on track.”
The Authority’s revenues totaled $3.4 million for the budget year ending in June 2020, resulting in a net position of $2.4 million.