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Council accepts city audit; staff to file restated 2023 report
Summary
Rudd & Company presented the fiscal 2024 audit; council approved the FY2024 audit and adopted a restated FY2023 report addressing prior federal grant accounting adjustments.
Rudd & Company auditor Teresa Flannery joined the meeting by Zoom to present the city’s fiscal year 2024 audit summary. The auditor told the council the financial statements were presented fairly in all material respects, and staff had addressed a prior reporting item related to federal COVID funding.
Flannery said the audit found the city’s financial statements in good order and identified a single internal-control item tied to prior pandemic grant accounting that the city had since corrected. The single-audit review of federal programs found no material compliance issues.
Council moved to adopt a restated FY2023 audit (to adjust presentation for a fund reclassification) and then to approve the FY2024 audit and required single-audit materials. Both motions passed on voice votes.
Flannery and councilmembers thanked the finance team for preparing complete records that facilitated the audit. City staff will file the adopted reports per state and federal reporting requirements.
