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City finance: auditors still awaiting Jackson Water and convention-center records; GASB-75 contract ratified

June 05, 2025 | Jackson City, Hinds County, Mississippi


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City finance: auditors still awaiting Jackson Water and convention-center records; GASB-75 contract ratified
The Jackson City Council ratified a payment to an actuarial firm for completion of the Governmental Accounting Standards Board (GASB) 75 report and discussed outstanding items that the administration said remain barriers to completing the city’s fiscal‑year 2023 audit.

Fidelis Malenbeca, the chief financial officer, presented two amendments to the municipal docket of claims and explained a $65,000 payment to a law firm as part of a settlement, and the ratification of a contract payment to Southern Actuarial Services to finish GASB 75 valuations for the specified fiscal years.

Council members pressed for a firm timeline to finish the audits. Finance staff said the auditor’s work is contingent on receipt of records from Jackson Water and outstanding convention-center materials. “Once they receive all the information, it goes through the management review,” finance staff said; the auditor had expected to complete the audit earlier but was delayed by missing documentation, including several months’ worth of records from Jackson Water.

Councilman Banks urged a formal letter, coordinated with the city attorney, to the convention center and other agencies urging prompt submission of outstanding items. Council members said they want the auditor to commit to a timeline once the remaining data are received and asked the administration to hold outside parties accountable for delays.

The council approved the claim amendments and the GASB‑75 payment by voice vote and asked CFO and legal to provide a written update on outstanding audit blockers and the expected timeline for completion.

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