Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance Audit topic
No spam. Unsubscribe anytime.
City treasurer and auditors say 2024 audit smoother; conversion to new financial system cited for earlier findings
Summary
Sheridan’s city treasurer and external auditors presented the FY2024 audit. Officials said the audit completed on time, noted improvements over 2023, and outlined remaining findings tied to the transition to a new accounting system and utility billing integration.
Darla Hawkins, Sheridan’s city treasurer, and Cindy Leralta of the auditing firm reviewed the city’s fiscal year 2024 audit and briefed the council on improvements and outstanding items.
Hawkins said the audit closed on time and ran more smoothly than the 2023 audit, attributing improvements to staff work and the transition to a new financial system. Leralta told the council that while some findings repeat from prior years, many will be resolved for FY2025 once the city finishes implementation of the new software and associated internal controls.
Auditors and staff explained that converting from the old accounting system to the new one required a ‘‘crosswalk’’ of account numbers; during the conversion some pooled‑cash entries were posted so that debits and credits spanned different funds and left individual funds temporarily out of balance. Leralta summarized the issue in lay terms: "Each fund is its own little company... with that conversion, we went from a debit in one company and a credit in another, so then each company was off balance."
Staff said planned work includes aligning reporting with generally accepted accounting principles, strengthening internal controls, training (including Tyler Munis‑specific sessions and PACE training) and completing payroll and HR conversion phases. Hawkins cautioned the council that utility‑billing integration remains complex and could affect timing for the FY2025 audit if conversion issues persist.
Council members commended finance staff and auditors for the improvements and asked clarifying questions about the conversion process, payroll and the utility‑billing vendor relationship. Auditors emphasized the audit opinion language that financial statements "present fairly in all material respects."
Why it matters: accurate, timely financial reporting helps the council and public assess stewardship of municipal funds and makes future budget and capital decisions more transparent.
