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Independent auditor finds no significant issues in North Miami 2024 CAFR, urges stronger collections
Summary
City Clerk Vanessa Joseph reported at the May 27 council meeting that the city's independent auditor, Anthony Brunson, PA, "did not find any significant issues," Joseph said.
City Clerk Vanessa Joseph reported at the May 27 council meeting that the cityof North Miamireceived its 2024 Comprehensive Annual Financial Report, and the city's independent auditor, Anthony Brunson, PA, "did not find any significant issues," Joseph said.
The auditor recommended that the city develop a formal process to collect on delinquent accounts and adopt a schedule for when federal and state grant funds will be spent, Joseph said. The CAFR showed an increase in the city's assets and revenues compared with 2023, Joseph added, and she attributed the revenue increase largely to property taxes.
CFO Angela Reyes, identified by Joseph as the city's chief financial officer, told the council the city should diversify revenue sources. Reyes also noted that expenditures rose this year, in part because the city purchased the Scott Galvin Center, Joseph said. Joseph said the city will pursue collecting on high-balance delinquent accounts for commercial nonresidential properties as one revenue source to consider.
The auditor's report was presented to the council as information; Joseph's summary did not include any vote tally or motion tied to the CAFR presentation. The clerk said the recommendations are intended to improve transparency and the city's financial management going forward.
