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Auditors present 2024 ACFR; city receives unmodified opinion but single-audit findings noted
Summary
BT and Co. presented Pittsburg's 2024 annual comprehensive financial report (ACFR) on Sept. 23. Auditors issued an unmodified opinion on the financial statements, identified one significant deficiency and one material weakness in federal compliance controls and said corrective actions were in place.
BT and Co., the city's auditing firm, presented the city of Pittsburg’s 2024 audited financial statements and the report to the commission on Sept. 23. Stacy Hammond, partner and engagement lead, told the commission auditors issued an unmodified (clean) opinion on the city’s financial statements.
Hammond said the audit was performed in accordance with generally accepted auditing standards, Government Auditing Standards (GAO), the Single Audit Act and OMB Uniform Guidance, and the Kansas municipal audit and accounting guide. She said the city implemented GASB Statement No. 101 (compensated absences) during the year and that auditors reviewed significant accounting estimates including other post-employment benefits (OPEB), the net pension liability related to KPERS (Kansas Public Employees Retirement System), lease accounting items and accrued compensated absences.
Because the city expended more than $750,000 in federal funds, auditors performed a single-audit examination of the major federal program(s). Hammond said the firm issued an unmodified opinion on compliance for the major program tested but identified two control findings: a significant deficiency related to lack of supporting documentation of review on two federal expenditures prior to disbursement and a material weakness related to lack of documented suspension-and-debarment procedures prior to procurement activity. Hammond said the city implemented corrective actions and that auditors will follow up in the next audit cycle.
Commissioners raised timing concerns: the audit work was completed Sept. 19 and the report was delivered the same day; at least one commissioner asked for earlier delivery in future years so commissioners have time to review the documents before the meeting.
No formal action was required; the commission received the reports.
