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Haslet auditors issue clean opinion on 2023-24 finances; council accepts report unanimously
Summary
An independent audit reported a clean (unmodified) opinion for Haslet's FY2023-24 financial statements, highlighted a $7.5 million increase in net position and management recommendations; the City Council voted unanimously to accept the audit.
Haslet City Council accepted the fiscal year 2023–24 financial audit on Monday after an independent auditor reported a clean opinion and presented management recommendations.
The audit presentation, delivered by Tung Pham, a shareholder at Burling Park, PC, said the firm “issued an unmodified opinion and this is considered a clean opinion,” and that the city's overall net position increased to about $81 million, a roughly $7.5 million, or 7 percent, rise from the prior year.
The audit presentation included highlights and recommended administrative improvements. Pham told the council the increase in net position was driven in part by a $1.4 million rise in property tax collections and about $900,000 in additional water and sewer charges for services. He also noted the general fund unassigned balance grew to about $13.4 million — “represent[ing] a healthy 24 months of reserve,” he said.
The auditor delivered four non-reportable management recommendations: (1) reconcile beginning fund balances during year-end close; (2) review and possibly consolidate some special or non‑major funds to reduce administrative burden; (3) formalize documentation for disbursement approvals (initials/signature/stamp); and (4) raise the capital asset capitalization threshold to $20,000 to reduce administrative tracking of small items.
Finance Director Marcy Lem introduced the audit and answered council questions during the presentation. Pham said the audit was performed in accordance with government auditing standards and that fieldwork occurred in January–March. He also told the council the firm did not identify material weaknesses or significant deficiencies in internal control reporting.
Mayor Halsey moved to approve the FY2023–24 audit report; the motion passed unanimously.
The auditor and finance staff said they will continue working on recommended adjustments and improvements as the city implements a new financial software and reviews its chart of accounts.
The council did not take further action beyond formal acceptance; staff will follow up on the management recommendations and present any required changes in future reporting or budget workshops.
