Submitted

93 out of 95 counties meet audit committee requirement

NASHVILLE—The Tennessee Department of Economic and Community Development on Thursday announced that 85 out of 95 counties, including Anderson and Roane, have been awarded ThreeStar status. In addition, since the ThreeStar community development program began requiring eligible communities to create and maintain a County Audit Committee in January 2013, the number of counties with Audit Committees has increased substantially. As of March 2013, there were 32 audit committees around the state; as of July 2014, there are 93.

“The ThreeStar program is a vital component to our state’s overall level of success, providing counties with a proven roadmap for continued economic and community strength, which in turn helps Tennessee win new investment and jobs,” Economic and Community Development Commissioner Bill Hagerty said. “Tennessee has been recognized as the number one state in the nation for economic development, and these audit committees support Governor Haslam’s overarching goal of making Tennessee the most efficiently run state on every level. I congratulate all of our ThreeStar counties and those communities who are taking the initiative to create Audit Committees and work toward achieving fiscal strength and efficient government.”

The Audit Committees are designed to help each county improve their financial management and reporting practices, and help ensure the implementation of good internal controls to prevent or detect fraud, a step towards achieving fiscal strength and efficient government. [Read more…]