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Mount Shasta council accepts independent audit for fiscal year 2023–24
Summary
Council accepted the independent financial audit and single audit for fiscal year 2023–24; staff noted a clean opinion from the auditor and a list of audit adjustments that staff will address moving forward.
The Mount Shasta City Council voted Jan. 27 to accept the independent audit reports, including the single audit, for fiscal year 2023–24.
City staff presented the audited financial statements and noted the city reported about $13.7 million in accumulated depreciation and a net position near $4.8 million. The audit also showed the city expended roughly $8.5 million on government activities last year and received about $1.9 million in grants.
Council members were told the city’s independent auditor issued a clean opinion, indicating the financial statements were free of material misstatement. Staff and the auditor discussed numerous audit adjustments that were recorded to reconcile prior reporting; Melissa Dodd said she has worked with the auditor on a corrective-action plan and expects to post the adjustments and reconcile them into the city’s financial system.
The audit discussion also covered accounting treatment for leased body-camera equipment and related subscription services, and the pace of the city’s Springbrook financial system implementation. Council members noted the audit was more timely than prior years and recommended preparing a Management Discussion and Analysis (MD&A) in future reports to explain trends such as the sales-tax decline.
The council approved the resolution accepting the audit and single-audit reports as presented.
