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Oakley council accepts fiscal 2024 audit; auditors offer minor recommendations
Summary
Council accepted the independent audit for the fiscal year ended June 30, 2024. The auditor said financial statements were presented fairly in all material respects and recommended minor operational changes, including tracking trail maintenance costs for grant requests and clarifying donated merchandise accounting for rodeo events.
The Oakley City Council voted to accept the independent audit for the fiscal year ending June 30, 2024, after a presentation from independent auditor Heather Kristen.
Kristen told the council, "It is our opinion that ... the financial statements are presented fairly in all material respects for that time period," and said auditors found only a "small handful of adjustments" that were recommended but no state compliance findings.
The audit presentation summarized full-accrual statements showing government and business-type activity, and noted the city’s utility funds — particularly the sewer fund — are improving after recent fee adjustments. Kristen said the sewer fund’s borrowing from other funds is decreasing and that, on a full-accrual basis, business-type activities were positive for the year.
Kristen also delivered several operational recommendations. She advised the city to track ownership, maintenance and patrol responsibilities for the new Weber River trail developed with an outside agency so the city can document costs and support future grant requests. "If you're finding that the city is responsible," she said, "that would be an excellent point to request additional grant money...to fund...maintenance or salaries." She recommended adding a dedicated general ledger account or program code under parks and recreation to record trail-related maintenance costs.
The auditor suggested clearer documentation for donated merchandise the city receives through local retailers and then distributes at rodeo events; Kristen recommended structuring those transactions so the city purchases the merchandise and the retailer makes a separate donation, to ensure an arms-length accounting record. She also recommended consistent public documentation of contract awards and minutes to avoid questions about related-party transactions in a small community.
Following the presentation, a council member moved to accept the audit, a second was received, and the council voted in favor. The vote was recorded as an approval of the audit report.
The council and staff were invited to follow up with the auditor about the recommendations; Heather Kristen thanked city staff for their cooperation in the audit process.
