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Mission council accepts FY2023 comprehensive annual financial report after auditors highlight restatements and single-audit results
Summary
After an auditors'presentation and questions from council, Mission City Council accepted the fiscal year ended Sept. 30, 2023 comprehensive annual financial report by a 4-1 vote; officials discussed restatements, GASB 96 implementation and federal awards including ARPA funds.
The City Council of Mission voted 4-1 on March 2025 to accept the city's comprehensive annual financial report for the fiscal year ended Sept. 30, 2023 following a presentation by the external auditors and questions from council members.
Auditors told the council the opinion on the financial statements was unmodified but that the report included restatements and adjustments arising from corrections to prior-period amounts and implementation of GASB 96 (subscription-based information technology). The presenters said the general fund ended the year with an ending fund balance of about $7.4 million, up from a loss in the prior year; increases in property tax valuation and transfers in from the utility fund were cited as factors.
The auditors also reported the city's single-audit results for federal awards of more than $18 million that year. The Coronavirus State and Local Fiscal Recovery Fund (ARP-related) was a major program tested (about $13 million), and the audit disclosed no material weaknesses or noncompliance for the major program tested. The auditors noted other control findings and recommendations that had been discussed with management and the audit committee.
Council discussion touched on audit committee review and the staffing of a longer presentation to the full council; one councilmember said the audit committee had spent over two hours reviewing the report. Mayor Pro Tem Rubin Plata voted against accepting the report; the record shows the motion passed 4-1. After the vote, staff confirmed the report will be filed and committees and management will continue addressing the auditors'improvement points.
The council also approved a separate motion accepting the audit report as presented and directed staff to continue implementing recommended improvements from the auditors' management communications and the audit committee review.
