Burbank clears financial audit

An independent audit of the city’s 2010-11 finances gave Burbank the highest possible rating.

Financial Services Director Cindy Giraldo said the audit by the accounting firm McGladrey and Pullen was completed in December.

The review also included the Redevelopment Agency, but a more complete report on the agency and its future will go to the City Council on Jan. 31.

A Comprehensive Annual Financial Report will be submitted to the Government Finances Officers’ Assn. for consideration of an annual national achievement award. Burbank could hear back by May, Greg Herrmann, community development director, said.

The city has received the national achievement award for 27 consecutive years.

The report is sent out to numerous government agencies and financial institutions in order to comply with various reporting, financial and bond disclosure requirements.

-- Maria Hsin, Times Community News

Twitter: @mariahsin