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Prosper council accepts comprehensive annual financial report and single audit
Summary
The council voted unanimously to accept the town's Annual Comprehensive Financial Report for fiscal year ending Sept. 30, 2024, and the single audit related to federal grant activities as presented by Weaver & Tidwell, LLP.
The Town Council unanimously accepted the independent auditor's Annual Comprehensive Financial Report (ACFR) for the fiscal year ended Sept. 30, 2024, and the single audit covering federal grant activities, following a staff presentation and a prior finance‑committee review.
Bob Scott, presenting for finance staff, described the ACFR as “a milestone” and highlighted that town staff prepared the financial statements in‑house for the first time rather than outsourcing them. He noted the report includes introductory, financial and statistical sections and added that the statistical tables now list principal water customers; he said “the town is the number 2 largest water customer.”
Scott and council members praised the finance team’s work, noting the town won the Government Finance Officers Association (GFOA) Award for Excellence for the 13th consecutive year and that staff completed other milestones such as issuing water and sewer revenue bonds and moving to a new financial system. The finance committee met earlier and recommended the ACFR be presented to the council.
Councilmember Chris Kern moved to accept the report; Deputy Mayor Pro Tem Amy Bartley seconded the motion. Council approved the resolution accepting the independent audit report and the single audit unanimously.
