Jenks council accepts unmodified FY2024 audit; auditors report healthy reserves

City Council members voted unanimously to accept the City of Jenks’ fiscal year 2024 audit after a presentation by the audit firm Elfrink & Associates.

Anne Elfrink, the lead auditor for Elfrink & Associates, told the council, “I’m pleased to present our audit report for the fiscal year ending 06/30/2024,” and said the firm issued an unmodified opinion for all nine opinion units the audit covered. Elfrink listed the audited entities as the City of Jenks and its blended component units, including the Jenks Public Works Authority, Jenks Aquarium Authority, Jenks Industrial Authority and the Jenks Economic Development Authority.

The audit report showed the city’s total net position increased by about $17.7 million (10.5%) from the prior year. The general fund reported an unassigned fund balance of about $4.8 million. Elfrink said capital asset additions exceeded depreciation by approximately $13.2 million, with major additions including the aquarium parking lot and Fraser Meadows phase 1 infrastructure.

City Manager Mr. Shroud framed the results as a sign of long-term fiscal stewardship: the city’s net position has grown from roughly $58.5 million in 2014 to about $186 million in 2024, he said. Elfrink also described the pension funding positions reported in the audit: the police pension plan was reported as essentially fully funded at about 101%, while the fire pension plan was funded at roughly 70.85%.

Councilors asked routine questions about the firm’s scope and municipal comparisons. Elfrink said the firm specialized in municipal audits and noted the audit was performed in accordance with generally accepted auditing standards and Government Auditing Standards. She said the audit disclosed no internal control deficiencies considered material to the financial statements and that any minor improvement opportunities had been communicated to management.

After discussion, the council took a motion to accept the audit as presented and voted 5-0 in favor (Brown — yes; Short — yes; Emmons — yes; Murray — yes; Mayor Corey Box — yes). No abstentions were recorded.

The audit and the auditor’s additional report on internal control and compliance were accepted as presented; council members asked staff to invite interested council members to future exit conferences to review findings in more detail.