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Corcoran’s auditor: preliminary Q4 shows about $200,000 surplus; city told figures are unaudited
Summary
Abdo Financial Solutions presented Corcoran’s first quarterly financial report showing a preliminary $200,000 surplus for 2024, higher interest earnings from bond proceeds and recommendations to formalize an investment strategy and maintain OSA-recommended reserves.
Vicky Holtos, a presenter with Abdo Financial Solutions, told the Corcoran City Council that the city’s preliminary 2024 financial results show about $200,000 more in revenues than expenditures but cautioned the figures are not audited.
Holtos said, “these quarterly financial reports that we'll be producing for you are not audited,” and that the firm conducts a robust review and will post year-end adjustments for claims and receivables as they close the books.
The report — presented to the mayor and council as Corcoran’s first quarterly summary from Abdo — highlighted the city’s seasonal cash…
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