External auditors issue clean opinion on Cedar Park FY2024 financial statements; single‑audit finds one compliance item

City auditors presented results of the fiscal year 2024 financial audit and single audit to the City Council, saying they issued an unmodified (clean) opinion on the City of Cedar Park’s Annual Comprehensive Financial Report (ACFR) and a clean opinion on the single audit of federal awards.

Adam McCain, the audit partner with Lieber & Tidwell, told the council the city received the highest level of assurance for the financial statements and that work on the ACFR “goes above and beyond” standard municipal reporting. He said staff provided timely responses and materials during the audit process.

On internal controls, auditors reported no material weaknesses or significant deficiencies. The single audit produced one compliance finding related to gathering contractor construction wage‑rate documentation for a federally funded contract; management subsequently obtained the required information and auditors said there were no wage‑rate violations identified.

McCain outlined common audit risk areas — management override of controls and revenue recognition (including utility revenues) — and said the audit procedures addressed those risks without reporting adjustments or disagreements with management.

City finance staff thanked auditors and departments for their cooperation; Finance Department presenter America Solis noted the audit represented months of work and staff coordination.

What's next: Auditors will issue final reports as required and staff will carry any single‑audit recommendations into compliance processes. No financial statement restatements or internal‑control findings were reported.

Quote: “We have issued our clean opinion, the unmodified opinion, the highest level of assurance we are able to give on a set of financial statements for the year ended 09/30/2024,” McCain said.