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City presents clean FY‑24 audit after ERP delays; single‑audit expected next month
Summary
Oklahoma City finance director presented the city's FY‑24 audited financial statements and said auditors issued an unmodified (clean) opinion despite delays from an ERP transition. Council accepted the reports and staff said a federal single audit is expected next month and a timetable to return to on‑time reporting was set.
Angela Pierce, Oklahoma City finance director, told the City Council that external auditors issued an unmodified (clean) opinion on the city's fiscal year 2024 audited financial statements despite delays tied to a recent enterprise resource planning (ERP) implementation.
The council accepted the audited financial reports for the Municipal Facilities Authority (MFA), the Public Property Authority (PPA) and the city. Pierce said the ERP implementation produced timing and internal‑control challenges that generated audit adjustments; staff incorporated those adjustments into the final statements.
The management presentation noted the authorities involved: the city's Comprehensive Annual Financial Report (CAFR) and the federal Single Audit (for grants). Pierce credited the city's accounting services staff, led by Alex Fedak, and external auditors Alan Gibbs and Hulick (referred to collectively as AGH) for completing the work.
Pierce summarized headline numbers presented to the council: the MFA net position rose about $1.2 million; the PPA net position rose about $7.1 million; the city's net position increased about $300 million; and total component units' net position increased by roughly $200 million. She referred council members to the management discussion and analysis section of the reports for more detail.
Pierce said staff expect the federal single audit (federal grants compliance) to be issued the following month and outlined targets to return the annual audit schedule to normal: issue FY‑25 financial statements by March 31, 2026, and return FY‑26 audited statements to the December timetable the council historically received. She characterized the implementation risk as a product of the ERP transition and described steps taken to document lessons learned and strengthen controls.
City leadership thanked the finance team for extra hours and work to complete the reports. Council then voted to adopt the related MFA, PPA and city dockets tied to the reports; each motion passed unanimously.
The adopted reports and supporting materials were placed on the city's public website, and Pierce invited council members and the public to review the CAFR and to expect the single‑audit release the following month.
