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City of Nixa receives clean opinion on 2024 audit; single-audit compliance confirmed
Summary
Auditors from Decker and Pace gave the city a clean opinion on its 2024 financial statements and reported no material weaknesses in federal-award compliance after federal grant expenditures exceeded the $750,000 single-audit threshold.
Blake Pace, a CPA with Decker and Pace, told the Nixa City Council the firm issued a clean opinion on the city’s fiscal year 2024 financial statements, meaning the auditors found the financial information free from material misstatement and presented in accordance with government accounting standards.
The clean opinion matters because lenders, bond agencies and residents rely on audited financial statements to judge the city’s fiscal health. Pace said the audit also included additional testing because the city’s federal grant expenditures exceeded the single-audit threshold of $750,000.
Pace summarized key figures from the audited statements: governmental (general and street) funds reported revenues of $18,711,786 and expenditures of $21,457,324, producing a net change in fund balance of $823,173. He said the governmental funds held $14,444,386 in cash at year-end—about eight months of operating expenditures by the auditor’s monthly test.
For enterprise operations (water, sewer, electric), Pace reported revenues of $28,317,898 and operating expenses of $23,314,390, with a change in net position of $4,288,957. He said enterprise funds held about $36,000,000 in cash at fiscal year-end and that net cash provided by operating activities was $8,591,636—ample, in his view, to cover debt service and capital outlay.
Pace said the city’s schedule of expenditures of federal awards showed $1,691,109 of federal monies spent in the year, which triggered single-audit requirements. The auditors tested internal controls and compliance over major federal programs and reported no material weaknesses, no significant deficiencies, and an unmodified compliance opinion on the major program tested.
"The city received a clean opinion this year, which is the highest designated opinion you can receive," Pace said. "If anyone were to point fingers saying ... you're not using the grant monies according to purpose, that's where you could point them in terms of saying, that's been tested and those monies are being spent according to purpose."
