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October 26, 2012
I am pleased to present the National Mediation Board’s (NMB) FY 2012 Consolidated Financial statements. This report is prepared in accordance with the requirements of the Office of Management and Budget Circular A-136, Financial Reporting Requirements.
This year, the NMB received its 14th consecutive unqualified audit opinion. Also of notable mention is the multi-departmental effort that contributed to the reduction of a material weakness down to a significant deficiency.
The revised administrative processes within the Office of Administration and the Office of Arbitration Services improved the recording of obligations related to arbitration services. The new system was fully implemented in August, 2012, and showed that the NMB was on the right financial path.
The NMB continues to strive to improve its financial stewardship by promoting sound business practices and improved accountability.
June D.W. King
Director, Office of Administration and Chief Financial Officer