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Council accepts auditor’s clean opinion on Allen’s FY 2023–24 financial statements
Summary
External auditors issued an unmodified (clean) opinion on the City of Allen’s September 30, 2024 financial statements and federal awards; council voted to accept the annual comprehensive financial report presented by the city auditor.
The Allen City Council voted to accept the City of Allen’s Annual Comprehensive Financial Report and related audit documents for the fiscal year ended Sept. 30, 2024 after a presentation by Weaver and Tidwell.
Brent Young, director with Weaver and Tidwell, told council the auditors issued an unmodified opinion — commonly called a clean opinion — on the financial statements and on the single‑audit report of federal awards. Young said auditors found no material weaknesses, no significant deficiencies and no material noncompliance related to the financial statements or the major federal programs they tested.
City staff and council members said the clean opinion reflects long‑running financial controls; council members noted this marks more than two decades of clean reports. Pete (chief financial officer) introduced the auditors and said the audit committee had been fully briefed and had asked detailed questions during a prior meeting.
Young summarized a set of fiscal highlights including: an unassigned general‑fund balance of about $34.3 million (roughly 26% of general fund expenditures, or about three months of spending); a $1.8 million or 6% increase in general fund balance relative to the original budget projection; a debt service fund balance of about $4.4 million; a capital projects fund balance of about $28.4 million (a planned decrease of $1.3 million); and a general obligation bond fund balance increase tied to new bond issuance and construction activity.
On the utilities side, the water and sewer fund ended the year with a net position of about $197.8 million, an increase of roughly 9% compared with the prior year, driven in part by rate changes and higher operating revenues.
Councilmember made a motion to accept the fiscal year 2023–24 Annual Comprehensive Financial Report; a second was recorded and the motion passed. The action accepts the audit results and places the documents into the public record for disclosure and use in the city’s continuing financial processes.
