King County Public Hospital District No. 1, which owns Valley Medical Center, has earned a “no findings” audit report from the State Auditor’s Office (SAO) for the 11th year.

Each year the SAO conducts an accountability audit to determine whether the district has complied with state laws and regulations and its own policies and procedures.

The areas examined for 2011 were those representing the highest risk of noncompliance, misappropriation or misuse, including open public meetings, procurement (public works projects), and compensation of public officials, bond compliance and general disbursements, according to a news release.

In all areas examined by the SAO, the district’s internal controls were adequate to safeguard public assets, according to the district. The district also complied with state laws and regulations and its own policies and procedures in the areas examined.

“We are very proud of this remarkable accomplishment: 11 years with no findings,” said Rich Roodman, Valley Medical Center CEO. “We take a proactive approach and fully cooperate with the SAO throughout the audit process. Along with strong operational oversight, good internal controls and accurate financial reporting – this is our recipe for success that we hope will continue to result in ‘no findings’ reports for years to come.”

The audit was released in mid-December.