Kraft CPAs gives City of Hendersonville unmodified audit opinion for FY2024; no findings reported
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Summary
External auditors from Kraft CPAs presented the city's FY2024 comprehensive financial statements, reporting an unmodified opinion and no findings; the general fund balance increased and net position rose largely due to capital asset additions.
Kraft CPAs presented the City of Hendersonville’s fiscal year 2024 financial audit to the Board of Mayor and Aldermen on Jan. 28 and delivered an unmodified audit opinion, reporting no current-year or prior-year findings.
Ken Youngstead and Julie Evans of Kraft CPAs summarized the audit process and results. They told the board the city’s financial statements were presented in accordance with generally accepted accounting principles and that auditors had no internal-control or compliance matters to report related to the audit procedures they performed. The firm also performed the single-audit work related to federal awards and reviewed the city’s transportation grant as the major federal program.
Auditors highlighted several financial metrics: the general fund balance totaled about $38 million at year-end, an increase of approximately $626,000 from the prior year; governmental net position was reported at about $138 million, up roughly $17 million from the prior year, driven largely by capital asset additions. Auditors noted estimates included in the statements such as pension liabilities and depreciation but had no audit findings to report.
The audit package includes management’s discussion and analysis prepared by city staff; auditors said that material policies were consistent with prior years. The presentation closed with auditors answering procedural questions; no formal findings were presented to the board.
