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City accepts FY2024 comprehensive financial report; auditors report no significant findings
Summary
City finance director and external auditors presented the FY2024 annual comprehensive financial report; auditors reported no uncorrected misstatements or significant deficiencies and the commission accepted the report unanimously.
The Coral Springs City Commission accepted the city's FY2024 Annual Comprehensive Financial Report on June 18 after a presentation by Finance Director Kim Moskowitz and auditing partner Brett Friedman of RSM.
Kim Moskowitz told the commission and auditors that the finance staff prepared the large document and supported the audit process. "Our audit was very long this year, but I'm happy to say it passed with flying colors," she said.
Auditor Brett Friedman and assurance manager Ashley McIntyre reviewed the audit's required communications to the governing body. They reported no significant or unusual audit adjustments, no uncorrected misstatements and no disagreements with management. McIntyre outlined the audit's review of significant accounting estimates, including self-insurance liabilities, pension and other post-employment benefit calculations, depreciation of capital assets, allowance for doubtful accounts, lease accounting and fair-value investments; the auditors said they deemed the management's methodologies and assumptions reasonable based on their procedures.
Commissioners thanked the finance team for the work; the commission moved to accept the report and voted unanimously to do so.
Ending: With acceptance of the FY2024 report, staff will continue routine financial reporting and required follow-ups identified in audit communications.
