Surprise! CFO Probe Pulled

The State Board of Accountancy has dropped its investigation into whether Surprise chief financial officer Scott McCarty unlawfully claimed he was a certified public accountant in Arizona.

The board closed the case after McCarty made a presentation on the misdemeanor accusation. The board said it would not turn over the information to county prosecutors.

He was a CPA in Arizona until he let his license expire in October 2003 when he was living in Washington, where he is a licensed CPA.

McCarty later returned to Arizona and worked in the financial services office at Scottsdale before being hired by Surprise.

He told the board in May that he had mistakenly implied he had a current ­license but only did so a few times. McCarty said he tried to renew his Arizona certification twice, but did not have sufficient continuing education hours.

“I deeply regret the position this situation has put me and my family in as well as the city of Surprise,” McCarty said in a letter to the board. “I have committed my 21-plus year career to the public sector and never intended to put myself in this situation.”

An investigation into the situation by Surprise found no wrongdoing.

City officials said McCarty’s work ­exceeded expectations, and discounted the anonymous tip that led to the investigation.

For reprint and licensing requests for this article, click here.
Bankruptcy Arizona
MORE FROM BOND BUYER