Kenai receives clean FY2024 audit; auditor flags lease accounting and IT access controls

Kenai City Council received the results of the city's fiscal year 2024 audit on April 16, when Joy Mariner, the lead partner from BDO USA, presented a clean opinion on both the financial statements and federal award compliance.

Mariner told council the auditors issued an unmodified (clean) opinion on the city's financial statements and on compliance with its federal awards, noting the city reported about $1,660,000 in federal expenditures this year, much of it through the Airport Improvement Program (AIP). "We issued an unmodified opinion on the financial statements. That's a clean opinion. It's what you, as the council, would want to see," Mariner said.

The audit found no misstatements requiring modification of the financial statements, but the auditors identified two areas for management attention. First, lease accounting required…