Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
Independent audit: Murrieta posts clean opinion for fiscal 2023–24 financials
Summary
City finance staff and independent auditors reported an unmodified (clean) audit opinion on Murrieta’s FY 2023–24 financial statements and no findings in the single-audit of federal funds. Auditors praised staff and said the city qualifies as a low-risk auditee.
The City of Murrieta received an unmodified, or “clean,” audit opinion for its fiscal year 2023–24 financial statements, auditors reported to the council on Jan. 21.
Jennifer Terry, finance manager, and the city’s independent auditors, Rogers, Anderson, Malady & Scott (RAMS), described a full audit conducted in accordance with generally accepted auditing standards, GASB reporting requirements and the Uniform Guidance for federal program audits. RAMS reported no findings for the financial-statement audit and no findings in the single-audit of federal programs, including the city’s American Rescue Plan Act (ARPA) funds.
Why it matters: A clean audit signals that the city’s financial statements are fairly presented and that auditors found no material weaknesses in internal control. The firm noted the city qualifies as a “low-risk auditee” after consecutive clean audits.
Auditor presentation: RAMS’ senior accountant said auditors performed interim and year-end procedures, reviewed internal controls, confirmed cash and investments with financial institutions and tested transactions using sampling procedures. “We have expressed an unmodified opinion or a clean opinion, which is the highest level of assurance that we can provide,” the auditor told council.
Council action: The council voted unanimously to receive and file the annual comprehensive financial report and single-audit presentation.
Ending: Finance staff thanked the broader finance team and auditors for the work that produced a smooth audit process. Council members asked staff to pass on their appreciation to the full team.
