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Finance director outlines audit timeline, reconciliation work and upcoming impact-fee study
Summary
Franklin’s finance director updated the council on an in-process audit with CLA, a reconciliation project aimed at eliminating multi-year backlogs, and plans for an impact-fee study to update project lists used to set fees.
Danielle, Franklin City’s director of finance, told council members that auditors from CLA performed preliminary field work in mid-February and are scheduled for final field work April 14–18 as part of a timeline that anticipates audited financial statements by June 30 and a presentation to council by July 22.
She said the finance office is completing reconciliations for 2024 with a target completion date of about April 4 so CLA can finish final testing in mid-April. Danielle explained the city has historically handled reconciliations manually with spreadsheets rather than using available reconciliation modules in the…
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