PLAINFIELD, NJ - For the second year in a row, Plainfield’s auditors found only one item needing improvement.
“I am very pleased with the audit report. It reflects the result of all the hard work of the entire team here in the City to strengthen our financial affairs,” Finance Director Ron West said.
In the first year of Mayor Adrian O. Mapp’s administration, the prior year’s audit had 16 findings of practices needing improvement. The previous administration had been without a chief financial officer since 2007 and in 2011 racked up 28 findings for improvement, 19 of which were repeats from past years. In the former administration’s final years, it relied on a CFO from a neighboring town who worked five to eight hours a week on city finances.
The first audit of Mapp’s administration, in 2015 for the 2014 fiscal year, saw a 75 percent decrease in negative findings, from 16 to 4.
Regarding the current positive finding, West added, “This was further reflected in the Moody’s report issued on July 27, which assigned the highest rating of MIG1 to our 2018 Bond Anticipation Notes.”