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City auditor gives Mona City a clean, unmodified opinion on 2023–24 financials
Summary
Contract auditors from Gilbert & Stewart CPAs reported an unmodified opinion on Mona City’s June 30, 2024 financial statements, told the council they found no material internal control weaknesses and identified no state compliance exceptions.
Ron Stewart of Gilbert & Stewart CPAs told the Mona City Council on the evening of the meeting that the firm issued an unmodified (clean) opinion on the town’s financial statements for the fiscal year ending June 30, 2024. Stewart said auditors tested account balances, confirmations, invoices, accruals and analytical comparisons and found that the statements “fairly in all material respects” conform with accounting standards.
Stewart summarized the audit procedures used: third‑party confirmations for items such as cash and taxes, sampling and invoice testing for proper period posting and approvals, recalculation of balances (payroll, depreciation, compensated absences, pension allocations) and analytical reviews comparing current year, prior year and budgeted amounts. He told the council auditors also reviewed internal controls through interviews, walkthroughs and testing and concluded the town’s controls were designed and operating effectively in the areas examined.
The auditor also reported on state compliance work performed under procedures supplied by the state auditor. For the fiscal year the firm tested fund balance restrictions, restricted taxes, fraud risk assessment, government fees, enterprise fund transfers, tax levy and retirement systems and said it found no compliance exceptions needing attention.
Stewart closed by thanking city staff and singled out Sarah and Alicia for their cooperation during the audit. He invited questions and remained available for follow up.
