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Williamsport accepts 2023 audit; auditors give unmodified opinion for primary government
Summary
Williamsport City Council on Oct. 2 unanimously approved a resolution accepting the 2023 audit reports; auditors reported an unmodified opinion for the city’s primary government and outlined next steps to return to an annual audit schedule.
Williamsport City Council on Oct. 2 unanimously approved a resolution accepting the city’s 2023 audit reports, while staff and auditors outlined the city’s current fiscal position and near-term work to return audits to a timely annual cycle.
Kim Stank of auditing firm Zelenkowski Axelrod told the council the firm could issue an unmodified opinion on the city’s primary government for 2023. “I am pleased to share with you that we're finally able to give the city an unmodified opinion on the primary government,” Stank said. The component unit (the parking authority) remains behind in audits, producing an adverse opinion at the component level.
Auditors reported the entity-wide statement for the year ended Dec. 31, 2023 showed a net deficit in net position of about $104,000,000, driven largely by debt, pension and other postemployment benefits (OPEB) liabilities. Stank said the city posted a positive net change in net position of roughly $21,000,000 for 2023, with the general fund ending the year with about $11.5 million in fund balance and roughly $5.7 million unassigned. The auditors noted a single-audit review for federal programs; ARPA was a major program tested.
Council also advanced related budget actions. On final reading council approved Ordinance Transfer No. 7, moving $21,000 from Young Woods Park Improvement (Act 13) to a flood levy account to pay GPI for flood services. That transfer passed 6-0. Council took first reading on Transfer Ordinance No. 11, an adjustment tied to the 2023 audit; that first reading passed 7-0 and will return for a second reading with detailed audit reconciliations.
Finance staff said the city intends to be back on an annual audit schedule by next year. Auditors and staff told council an RFP is out for the 2024 audit work with bids due early October and that the aim is to be fully caught up in the 2025 audit cycle.
Council approved the audit acceptance resolution 7-0.
Next steps include completion of the 2024 audit work, solicitor review of ordinance language where needed, and continued outreach with component units to move outstanding audits forward.
