Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Morganton auditors find no material misstatements but flag water/sewer asset condition
Summary
Independent auditors told Morganton City Council on Dec. 2 that the FY2024 financial statements contained no material misstatements, but the Local Government Commissionperformance indicator flagged the water and sewer capital asset condition ratio as a concern (0.43; target >0.5).
The City of Morgantons independent auditors reported Dec. 2 that they found no material misstatements in the citys fiscal year 2024 financial statements but identified a financial-performance concern for the water and sewer capital asset condition ratio.
Hugh Wiseman, an auditor with Thompson Price, Scott and Adams, told the City Council the audit "states that we have audited the financial statements for the fiscal year ending June 30, 2024. We are not aware of any material misstatements which have not been adjusted." He added that any accounting estimates reviewed were reasonable and that auditors had "encountered…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
