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City auditor reports clean opinion; consultant flags internal-control gaps and county payment delay
Summary
CliftonLarsonAllen LLP told the City of Pacific Board of Aldermen on March 18 that it expects to issue an unmodified audit opinion, while flagging a material weakness tied to $2.3 million of unreported construction activity from 2023 certificates of participation and recommending internal-control improvements.
CliftonLarsonAllen LLP told the City of Pacific Board of Aldermen on March 18 that it expects to issue an unmodified (clean) audit opinion for the fiscal year after a final quality review, but auditors identified a material weakness tied to incomplete accounting for 2023 certificates of participation and several internal-control improvements the city should make.
Andrew Spell, principal with CliftonLarsonAllen, told aldermen the firm converted the city’s cash-basis records into accrual-based statements for the audit and reviewed government-wide statements, major funds and enterprise funds including water and sewer. He said the audit identified uncorrected misstatements that were immaterial to the financial statements but required to be communicated to…
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