Independent audit finds 'no weaknesses' in Central Health 2019-20 budget
After reviewing documents for Central Health, accounting firm Maxwell Locke & Ritter gave the health care district’s fiscal year 2020 budget a clean opinion and reported it found “no weaknesses” in liabilities and expenses. (Iain Oldman/Community Impact Newspaper)
On Jan. 27, Maxwell Locke & Ritter audit partner Jimmy Romell provided a report to the Central Health board of managers of the firm’s independent investigation into the government agency’s financials.
Central Health is Travis County's health care district and helps to provide health care for the county's indigent population. Every year, the agency receives an audit report on its financials from an independent firm. Maxwell Locke & Ritter has performed the annual audit for Central Health since at least 2010.
“What the auditors are bringing forward is a clean opinion, which is the highest opinion they can give,” said Jeff Knodel, Central Health's vice president and chief financial officer.
According to the report, Central Health’s end-of-year net position—the difference between the agency’s assets and liabilities—increased 25% from FY 2018-19 to FY 2019-20. At the end of FY 2019-20, the audit report found Central Health held $422.05 million in total assets with a net position of $397.92 million.
The audit report found operating expenses for Central Health dropped 18% from FY 2018-19, down to $150.79 million in FY 2019-20.