Pinetop-Lakeside accepts clean annual audit and expenditure limitation report

The Pinetop-Lakeside Town Council on March 18 accepted the town's annual comprehensive financial report and the annual expenditure limitation report for the year ended June 30, 2024, after auditors presented a clean opinion and staff answered council questions.

Auditors from Hinton Burdick presented highlights of the audit and issued an unmodified (clean) opinion on the town's financial statements. "There was an unmodified or, in other words, a clean opinion on the financial statements," auditor Crimson Singleton said. Singleton told the council there were no reportable deficiencies in internal control or state compliance findings.

The council heard summary numbers: total government-wide net position increased by about $793,000 to roughly $7.2 million; total government expenses were presented at about $12.3 million; sales tax revenue for the year was shown at about $7.4 million. Auditor Crimson Singleton said the general fund's unassigned fund balance was about $3.2 million, roughly five months of operating expenses, which she described as a healthy position.

Council members asked for and received clarifications during the presentation. Kevin (town finance staff) introduced the audit package and noted the packet included the ACFR, management's discussion and analysis, and a letter to management listing two reportable items; auditors described overall results as favorable. Councilor Heisler moved to accept the annual expenditure and limitation report; the motion carried unanimously.

The council also approved the consent agenda by a single motion earlier in the meeting; there was no separate discussion of those routine items.

The votes recorded on the floor were unanimous; individual roll-call votes were not specified in the meeting transcript. The town will file the accepted audit documents and the annual expenditure limitation report as required by state reporting rules.