Town Receives Ninth Consecutive Audit Report With No Findings

April 23, 2025

Miami Lakes, FL – The Town of Miami Lakes is pleased to announce that it has received a clean audit opinion from the independent external auditor, Garcia, Espinosa, Miyares, Rodriguez, Trueba & Co., CPA, for its Annual Comprehensive Financial Report (ACFR). The Annual Comprehensive Financial Report provides an accurate and transparent picture of the Town’s financial health. The ACFR for fiscal year 2023-2024 report demonstrates zero findings with no material weaknesses or significant deficiencies, and full compliance across the board. This is the highest level of assurance that can be provided to the public that the Town’s financial statements are free of material misstatements and present a fair view of the Town’s financial condition.

As part of its audit procedures, the Town’s auditor is also required to audit any federal and state grant funds received by the Town, and the Town once again has no findings related to the expenditure of grant funds. This marks the 9th consecutive year that the Town has achieved this prestigious milestone. This reinforces its commitment to transparency, accountability, good checks and balances, fiscal stewardship and compliance with rules and regulations reviewed by the auditor.

In addition, for the 12th consecutive year, Miami Lakes was awarded the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting for its FY 2022-2023 Annual Comprehensive Financial Report (ACFR). The Certificate of Achievement for Excellence is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.

To achieve the recognition of excellence, applicants must demonstrate competence in reporting in conformance with generally accepted accounting principles, compliance with finance-related legal and contractual provisions, and thoroughness in disclosure and detail sufficiency. Criteria examined when considering an application for the award includes local significance and value, technical significance, transferability, documentation, the cost/benefit analysis, efficiency, originality and durability.

The report was judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the report.