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City treasurer and audit manager say single-audit report expected by month end; stop-payments on reimbursements remain
Summary
City audit manager told the finance committee the completed audit should be ready by the end of the month; staff said some grant reimbursements are on hold pending the single audit filing but no grants have been lost so far.
The city’s audit manager told the finance committee that the independent audit work is nearly complete and the firm expects the final report no later than the end of the month, after which staff plan to present the audit to the finance committee in July.
During the committee meeting, Treasurer Don Schultz and an audit manager reported that the auditors had been in frequent contact with city staff and expected to finalize the audit within roughly two weeks. The audit manager said the completed report would be scheduled for the first finance committee meeting in July.
Council members raised concerns about whether delays with the single-audit filing could put any submitted grants at risk. The audit manager said he was not aware of any grants that had been lost. The treasurer confirmed that some reimbursements are temporarily on hold but that the city expects reimbursement once the single audit is filed with the state.
The discussion included pushback against suggestions that the prior administration intentionally delayed the audit. The audit manager characterized such suggestions as unfounded and said there had been no effort by prior administrations to hold up the audit process.
Nut graf: City financial staff said the completed single audit should be available by month’s end and will be reviewed by the finance committee in July; staff cautioned that a few reimbursement payments tied to grant compliance are paused until the single audit is filed but said they know of no lost grants.
Questions from finance committee members centered on grant compliance and the timing of federal/state reimbursements; staff said they will continue to work with auditors to conclude the single audit and will report back to the committee.
Ending: City staff advised that, while reimbursements are held temporarily, the city expects to be reimbursed after the single audit is filed and that they will inform the council promptly if circumstances change.
