Peoria accepts FY2024 financial audit; auditors issue clean opinion and note no control deficiencies

Peoria City Council on Jan. 28, 2025, acknowledged receipt of the city’s Fiscal Year 2024 Annual Comprehensive Financial Report and related auditor communications. External auditors Heinfeld Meacham & Company issued an unmodified (clean) audit opinion dated Dec. 17, 2024, and reported no internal control deficiencies for financial reporting or federal‑grant compliance.

"An unmodified audit opinion dated 12/17/2024 was issued for the city's financial statements," audit partner Joshua Jumper told the council. Jumper added that the single audit — the federal‑grant review — continues to receive attention because the city still is expending COVID‑19 grant funds from prior years.

Sean Kendall, the city’s chief financial officer, told the council the requested action was to acknowledge receipt of the audit and auditor communications; "there's nothing really more to it other than your acknowledgment of that receipt," he said.

Auditors described the timeline for the engagement (engagement letter in spring, preliminary procedures in summer, final procedures after June 30 fiscal year end, drafts in November, and final reports issued in December and January). The audit letter to governance, included in the council packet, noted no disagreements with management, no difficulties in completing the audit and no uncorrected misstatements.

A councilmember asked how the city selects outside auditors. Kendall said the city uses a request‑for‑proposal process through procurement on a five‑year cycle; Heinfeld Meacham began the current contract this year after a prior five‑year engagement by CliftonLarsonAllen.

The council voted 7–0 to acknowledge receipt of the audit and auditor communications. The action does not authorize new spending; council acknowledgment is a statutory presentation and transparency step required under state law.