Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance committee accepts FY2023 audit; auditors report multiple internal-control weaknesses
Summary
Auditors from BMSS gave an unmodified opinion on Homewood City's FY2023 financial statements but reported material weaknesses in internal control and several compliance items. The finance committee voted to accept the audit and directed staff to remediate issues before federal deadlines.
Homewood City's finance committee voted Feb. 3 to accept the fiscal year 2023 audit after auditors from BMSS presented the financial statements and a separate single-audit report.
BMSS's Jenny Gray, assurance senior manager, told the committee the firm issued an unmodified (clean) opinion on the city's FY2023 financial statements. "We did have an unmodified opinion on the financial statements for fiscal year 2023," Gray said.
The auditors also reported several deficiencies in internal control and compliance. Gray summarized findings that the firm characterized as material weaknesses,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
