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Board accepts city audit for fiscal year ending Sept. 30, 2024
Summary
The Board of Aldermen accepted the City of Olive Branch’s annual external audit for fiscal year 2024, which staff described as positive with no issues.
The Olive Branch Board of Aldermen voted July 15 to accept the city’s external annual audit for the fiscal year that ended Sept. 30, 2024. Mayor Adman and finance staff summarized the audit as positive and said it contains the financial highlights for the period Oct. 1, 2023 through Sept. 30, 2024. Chief Financial Officer Jason May (referred to in the meeting as Mr. May) and staff praised the finance team and department heads for maintaining the city’s financial position, noting the city’s recent growth and sensitivity to national trends. The mayor thanked the CFO and staff and said the audit showed an attractive tax rate and several years without a millage increase. Action: Alderman Collins moved to accept the annual audit; the motion carried after a second. Staff did not report material findings requiring corrective action in the meeting.
