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San Angelo council accepts FY24 financial report and single-audit after auditors cite accounting adjustments
Summary
City council voted 7-0 to accept the City of San Angelo's fiscal year 2024 Annual Comprehensive Financial Report and single-audit, while auditors and staff described a clean opinion and a required accounting restatement tied mainly to revenue recognition and allowances for uncollectibles.
San Angelo's City Council unanimously accepted the city's Fiscal Year 2024 Annual Comprehensive Financial Report and single-audit on a 7-0 vote after auditors told council they issued a clean, or "unmodified," opinion on the city's financial statements and federal compliance testing.
The auditor, Clayton Rogers of Pattillo, Brown and Hill, told the council the firm issued an unmodified opinion on both the financial statements and the federal single audit, which covered roughly $16.7 million in federal expenditures in FY24 and included Water Development Board funds. "Based on our audit, we believe that these financial statements are presented materially correct in accordance with accounting principles," Rogers said.
The report included 1 required audit finding tied to revenue recognition and allowance estimates. Rogers said the audit prompted a restatement of beginning…
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