Plainview council accepts comprehensive annual financial report; auditors issue clean opinion

Auditors from Bollinger, Sears & Gilbert Moss LLP told the Plainview City Council on March 20 that they issued an unmodified (clean) opinion on the city’s comprehensive annual financial statements for the fiscal year. After the presentation, the council voted to accept the financial report.

Audit manager Christie Faye said auditors found no material weaknesses, significant deficiencies or compliance findings. She credited city management with maintaining records and internal controls that allowed the auditors to render a clean opinion. Faye noted there were no new accounting standards affecting this year’s report.

Key figures presented by auditors included a rise in total assets from about $151 million to about $160 million and an increase in capital assets of roughly $17 million. Faye said much of the capital investment reflected projects such as a landfill expansion, metering projects and park improvements. She reported the city spent roughly $4.2 million in ARPA funds during the fiscal year, leaving about $300,000 deferred at year-end.

On the governmental funds side, auditors reported an overall increase in fund balances of about $1.3 million, driven by higher property and sales tax collections (property taxes up about $668,000; sales taxes up about $450,000). Auditors also said revenues were up about $4.4 million overall, with grant and contribution activity accounting for about $3.0 million of that increase.

Council action: Mayor Pro Tem Weiss moved to accept the financial report; Councilmember Rascon seconded. Council voted unanimously to accept the report.

The auditors also reported no findings in the additional compliance testing required because the city expended more than $750,000 in ARPA funds.