During the Sioux City Council meeting on December 9, 2024, city officials celebrated the completion of the fiscal year 2024 financial report, marking a significant milestone in the city’s financial management. Randy Corona, the interim accounting and reporting manager, highlighted the hard work of city staff and auditors over the past five months to finalize the report.

Andrew Grice from Bergen KDV presented key highlights from the audit, emphasizing the importance of the independent auditor's report included in the financial statements. Grice reported that the city received a clean or unmodified opinion, which is the highest level of assurance an auditor can provide. This indicates that the financial statements are fairly presented in all material respects, a positive outcome for the city’s financial health.

However, the audit did reveal one finding related to internal controls, specifically concerning adjustments to prior period financial statements. Grice noted that while this was a minor issue, it is essential for maintaining transparency and accountability in financial reporting.

In addition to the internal control finding, the audit assessed four major federal programs, with no compliance issues reported. This suggests that the city is effectively managing its federal funding and adhering to necessary regulations.

The meeting also addressed Iowa legal compliance reporting, where the only finding was related to deficit fund balances at the end of the fiscal year. This indicates a need for the city to monitor its financial reserves closely to ensure long-term fiscal stability.

Overall, the discussions during the meeting underscored the city’s commitment to financial integrity and transparency, which are crucial for maintaining public trust and ensuring effective governance. As Sioux City moves forward, addressing the identified findings will be essential in strengthening its financial practices and supporting community needs.