The Levelland City Council meeting on December 2, 2024, focused primarily on the results of the recent financial audit conducted for the city. The meeting featured a detailed presentation from the auditors, who reported on the financial health of Levelland as of September 30, 2023.

The auditors confirmed that there were no disagreements with city management during the audit process, highlighting a collaborative effort in gathering necessary information. They noted that the financial statements presented a fair view of the city's financial position, receiving an "unmodified" opinion, which indicates a clean audit report. This is a positive outcome, as it reflects well on the city's financial practices and management.

Key points from the audit included discussions on capital assets and long-term debt. The auditors explained that certain entries related to capital assets needed to be reclassified on the balance sheet, moving them from expenses to assets. They also addressed pension and other post-employment benefits (OPEB) liabilities, emphasizing the importance of accurately recording these financial obligations.

The auditors provided insights into accounts receivable and accrued wages, noting that adjustments were made to ensure proper financial reporting. They reassured the council that management is aware of the necessary postings for future audits, which will help maintain transparency and accuracy in financial reporting.

In addition to the financial statements, the auditors issued an internal control letter, indicating that there were no material weaknesses or significant deficiencies found during the audit. This further underscores the effectiveness of the city's financial management practices.

Overall, the meeting underscored the city's commitment to maintaining sound financial practices and transparency, with the audit results serving as a testament to effective management and oversight. The council will continue to work closely with auditors to ensure ongoing compliance and improvement in financial reporting.