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Council accepts annual financial audit for fiscal year ending June 30, 2024
Summary
Council voted unanimously to accept the city's annual financial audit for the period ending June 30, 2024. Council and staff discussed fund balances, a corrected journal entry for a vac trailer, and capital projects impacting fund balance.
Morgan City Council voted unanimously on Feb. 11 to accept the annual financial audit report for the period ending June 30, 2024.
Councilmembers reviewed highlights from the audit. A council member noted that enterprise funds (water, sewer, electric, sanitation) improved year over year: the electric fund moved from a deficit of about $538,000 two years earlier to a $293,000 surplus in the audited year, a shift staff attributed to a rate study and changes implemented after that study. The internal…
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