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External consultants find large year‑end adjusting entries but no widespread internal control failure; recommend budget process fixes
Summary
Citroen Cooperman told the Delray Beach City Commission on March 11 that 39 year‑end adjusting journal entries affected about $90.3 million for FY 2023 but that most were presentation reclassifications rather than signs of systemic control failures.
City‑hired consultants from Citroen Cooperman on March 11 presented a review of the city’s fiscal year‑end adjusting journal entries for FY 2023 and an assessment of budget transfers for the three years ended Sept. 30, 2024.
Why it matters: The review began after commissioners raised questions about large, year‑end accounting entries and frequent budget amendments. The consultants said the large dollar value of those entries did not necessarily indicate accounting errors or fraud but that administrative improvements are needed to improve transparency and department‑level budget accountability.
What consultants found: Steven Emery of Citroen Cooperman said auditors reported 39 adjusting journal entries that…
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