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Finance committee reviews FY24 single audit covering runway grant, ARPA and FEMA funds; no findings reported
Summary
Finance Committee received the city’s FY24 single audit and FY24 final financial audit report; auditors reviewed three major federal/state funding areas — airport runway grant (about $3.38 million), ARPA funds ($1 million spent in FY24), and FEMA reimbursements — and reported no findings to the committee
The Gardner City Council Finance Committee reviewed the city’s FY24 single audit and the FY24 final financial audit report, covering the airport runway grant, American Rescue Plan Act funds and FEMA reimbursements.
City finance staff told the committee the single-audit work focused on three major funding areas: the airport runway grant (about $3.38 million), ARPA funds (about $1 million spent in FY24) and FEMA reimbursements that were spent earlier but reimbursed in FY24. Finance staff said auditors examined procurement, payables, payroll time sheets and other compliance areas and found no reportable findings.
“Again, they go through everything…it’s very intense,” a finance staff presenter said, describing the auditors’ review process, which included portal uploads and documentation submitted electronically.
Why it matters: Single-audit reviews are required when jurisdictions expend federal funds and are intended to confirm compliance with relevant rules and to identify material weaknesses. Committee members praised the work and asked procedural questions about how the audit is performed and documented; finance staff provided a summary memo and additional materials in the meeting packet.
Action and next steps: A committee member moved to recommend that the communications be placed on file with the full council. The committee approved that recommendation by voice vote; staff said the materials would be forwarded to the full council as recommended.
Background and limits: The audit summary presented to the committee included details about the areas audited and a short explanatory memo on the city’s free cash/net income position. Staff noted that single-audit procedures included checks of procurement policies, signatures on payables and verification of salary records.
