Office of the State Auditor Completes Audit of the State of North Dakota’s 2019 Comprehensive Annual Financial Report

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**PRESS RELEASE**

 

FOR IMMEDIATE RELEASE

January 27, 2020

 

Office of the State Auditor Completes Audit of the State of North Dakota’s 2019 Comprehensive Annual Financial Report

Contact information: Brianna Ludwig, North Dakota State Auditor’s Office, 701-328-2453, bsludwig@nd.gov

The State of North Dakota’s Office of Management and Budget (OMB) recently completed the Comprehensive Annual Financial Report (CAFR) for fiscal year 2019, which ended on June 30, 2019. The State Auditor’s Office audited the CAFR and issued our opinion, which is contained within the report. Our office compliments the OMB on their hard work and professionalism in completing this CAFR. The CAFR may be found at http://bit.ly/2019CAFR.

During our audit, we found two missing note disclosures including a $1.47 billion note disclosure identifying securities assigned as collateral for debt from the Bank of North Dakota and another $4 million of capitalized interest from the North Dakota University System. The audit also found $95 million in errors that were corrected in the CAFR financial statements.

State Auditor Gallion commented, “Thank you to the OMB and our team of auditors for their hard work. The taxpayers should feel comfortable knowing North Dakota has a strong financial position of $24.7 billion dollars.”

To view the finding and recommendation, read the Governance Communication Including the Report on Internal Control, Compliance, and Other Matters at http://bit.ly/19CAFRgovcom.

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