Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Midlothian receives clean audit for fiscal year 2023–24, auditors report no material noncompliance
Summary
Independent auditors presented the city—s FY202324 financial statements and single-audit results, issuing unmodified ("clean") opinions and reporting no significant deficiencies or instances of noncompliance.
Auditors from Batillo Brown Hill LLP told the Midlothian City Council on March 25 that the city—s financial statements for fiscal year 202324 received an unmodified opinion and that the single-audit of federal assistance likewise received a clean opinion.
The auditors presented the annual comprehensive financial report and the single-audit report, saying the city spent about $879,000 in federal grant awards during the year across seven programs and that the Coronavirus State and Local Fiscal Recovery Fund was selected as the major program for testing. "In our opinion, they're free of any material misstatements and they're also presented fairly in accordance with generally accepted accounting principles," the auditor said, describing the unmodified opinion.
The auditors also reported no significant deficiencies in internal control over financial reporting and no reportable instances of noncompliance that would materially affect the financial statements. They said they found no significant deficiencies in internal controls over compliance for the federal program tested.
Council members asked for clarification about the difference between "significant deficiencies" and lesser control matters; the auditor explained the threshold for reporting and said items below the threshold would be communicated in a management letter if present. No such items were reported.
The presentation concluded with the auditors inviting questions; council members thanked city staff for their work preparing the reports and for supporting the audit process.
