Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Auditor: Kearney caught up on audits, now holds fixed-asset records; reserves equal about six to seven months of operations
Summary
An independent auditor told the Board that Kearney's fiscal 2023 and 2024 reports were completed on a modified cash basis, fixed-asset records were recovered from a prior auditor, reserves are healthy (roughly six to seven months of general fund operations) and several legacy record issues remain under cleanup.
Trout Beeman & Company presented the independent audit results for the fiscal years ending March 31, 2023 and March 31, 2024 and told the Board the city is now current on its audited financial statements.
Mike Grozek, the CPA who led the presentation, described the city's financial statements as prepared on a modified cash basis, explained that the firm recovered fixed-asset records from the prior auditor and said those records have now been entered into the city's accounting system. "You are now the proud owner of 2 audits, 2023 and 02/2024," Grozek told the board.
Grozek highlighted…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
