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Audit partner outlines Belmont City FY 2024–25 audit plan; committee schedules follow-ups
Summary
Audit partner Amy Myers presented the planned scope, timing and key requirements for Belmont City's fiscal year 2024'025 audit, including single-audit thresholds, group-audit considerations and planned fieldwork dates; the committee had no immediate action items and will meet again ahead of the budget adoption.
Amy Myers, audit partner with Maize and Associates, presented the Belmont City Audit Committee with the planned scope and timing for the fiscal year 2024–25 audit and answered committee questions on standards, compliance testing and fraud considerations.
Myers told committee members the city's audit will be conducted in accordance with generally accepted auditing standards and Government Auditing Standards (the "Yellow Book") and described when a single-audit and Transportation Development Act testing would be required. "The city didn't require a single audit" for the prior year, Myers said, while noting the single-audit threshold is $750,000 in federal program spending in a single year.
The presentation outlined the auditor's responsibilities and the separate responsibilities of city management and those…
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