Audit finds Port info not listed correctly
May 27, 2021
COLFAX - A state 2019 audit listed the Port of Whitman as failing to update internal controls for financial reporting under the Budgeting Accounting and Reporting System (BARS).
It is the first finding by the Washington State Auditor's Office since the Port of Whitman was formed in 1958.
The state accuses the port of not listing Other Post-Employment Benefits (OPEB) on the Schedule of Long-Term Liabilities and Notes correctly. It's what the port pays for retiree benefits.
"Even though retires pay 100% of their premiums, that payment is not the full cost of the benefits. Retirees pay less b...