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Finance director: missing FY24 balances caused audit migration error; fix underway
Summary
Finance Director Nate told the council auditors flagged migration problems from Munis to Cassell because FY24 starting balances for balance-sheet accounts were not migrated; staff will provide corrected data to Cassell and continue reconciliations toward audit completion.
Nate, the city’s finance director, briefed the council on an audit issue tied to the migration from Munis to Cassell and said staff located the cause and are working with the vendor to correct it.
Nate said auditors reported discrepancies because “any of the balance sheet accounts, your assets, your liabilities, your 1, 2, and 3 accounts, all those should have, SOY, balance. So starting your balance. But in FY '24, those balances were not put in Munis at all.” He said he and IT identified where the omissions occurred and that they had a phone call scheduled with “Chase from Cassell” to provide the correct starting balances and remigrate the data.
Nate said the work should allow auditors to reconcile the general ledger and complete the audit. He reported account reconciliations are up to date through February for two of the accounts and through January on others, and said the finance team aims for a monthly practice of finishing reconciliations early in each month.
“...we found out what it was, and like I said, hopefully, that'll get fixed ASAP,” Nate said, adding the finance team is actively working with the vendor and that he had received frequent communications from staff while the issue was resolved.
Nate opened the floor to questions and said the team’s goal is to move the audit to completion quickly once the remigration is finished.
