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Auditors issue 'clean' opinion on Westminster's FY2024 financial statements; payroll control deficiency noted
Summary
External auditors presented the fiscal year‑ended June 30, 2024 audit to the Westminster council and reported unmodified opinions on the financial statements and the single audit. Auditors identified one significant deficiency related to payroll timesheet approvals and reported noncompliance findings in the Housing Choice Voucher program under the
Auditors from SP & Company LLC told the Westminster Mayor and Common Council on Jan. 27 that they issued unmodified ("clean") opinions on the city's June 30, 2024 financial statements and on the uniform guidance single audit required for entities that spend more than $750,000 in federal funds.
Bill Seymour, engagement partner for SP & Company LLC, told the council his firm "issued an unmodified or if you will clean opinion on the financial statements," and that auditors noted no instances of fraud during their procedures (while cautioning that a financial audit is not a fraud‑only engagement). The audit scope included the city's financial statements for the year ended June 30, 2024, the single audit, submission of federal data collection forms and certain agreed‑upon procedures related to the U.S. Department of Housing and Urban Development filings.
Auditors said they performed a risk‑based approach and used the COSO internal‑control framework to evaluate controls. They reported no material weaknesses in internal control over financial reporting but did identify one significant deficiency related to payroll: a sample of timesheets included instances that were not approved through the normal process. Auditors noted that during the prior year there were three findings, two of which had been cleared and the remaining item should clear in the next audit cycle because of timing of corrective actions.
On the single‑audit work, auditors said the city spent more than $750,000 of federal funds and that they tested two major programs, covering approximately 98% of total federal awards in their sample. The auditors reported "a couple of different findings, mainly noncompliance on the housing choice voucher" program for the current year and characterized those findings as compliance issues rather than financial statement control failures.
Council members responded with thanks to the finance team. One councilmember specifically congratulated Finance Director Teresa Rogers and her team for their work, calling it among the best audit reports the council could recall. The auditors praised management cooperation and noted staff assistance throughout the process.
City staff and auditors said follow‑up work on the single‑audit and the payroll control item will continue; staff will track corrective actions and report progress through normal financial reporting and budget processes.
