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Posted on: April 12, 2021

Seabrook’s Financial Report

CAFR

City auditors submitted the City of Seabrook’s finalized financial audit to Seabrook City Council on Tuesday, April 6, 2021 and gave the city an excellent rating. The City of Seabrook has received excellent recognition for its financial transparency for the past 40 years and Fiscal Year 2019/20 continued in the tradition. 

According to Director of Finance, Michael Gibbs, the Seabrook Charter requires the city to conduct an independent audit each year. The audit of the city’s financials ensures residents, businesses, stakeholders, financial institutions and City Council that the city’s fiscal records do not have misstatements whether through fraud or error. “We conducted our independent audit by using an outside auditing firm to ensure the integrity of our financial report,” said Gibbs. “The city’s audit also helps to determine the city’s credit rating which impacts the residents when the city issues debt obligations.” 

“Trust, transparency and accountability make up the foundation on which city government is built,” said Mayor Thom Koluspki. “I am proud that year after year the City of Seabrook is recognized with a Certificate of Achievement for Excellence in Financial Reporting. The annual independent audit is certainly indicative of just how fiscally responsible the city is and how strong of a foundation the City of Seabrook is built on. Even with the COVID-19 pandemic and accessibility to our businesses hindered by the SH146 construction, our financials look strong and the future of Seabrook is bright.”

City Manager, Gayle Cook, said “We welcome the independent auditors to review all of our operating funds within the city. This maintains the integrity and trust with those we humbly serve. It brings me great pride that we can report the city remains in great financial condition.”

The City of Seabrook’s financial audit was presented by Belt Harris Pechacek, LLP, Certified Public Accountants. The city’s Comprehensive Annual Financial Report (CAFR) is now available online at www.seabrooktx.gov/financials.

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