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FY25 audit on schedule; auditors to begin field work, finance director says
Summary
Finance staff told the Budget and Finance Committee auditors are meeting weekly with staff and are expected to begin field work next week; the audit team and staff have been coordinating documentation and remain on the schedule presented to the committee. The chair praised the short, efficient meetings between staff and the contractor.
Miss Holden, Finance Director, told the Budget and Finance Committee on Oct. 6 that the city’s FY25 audit is progressing on schedule and that auditors are expected to begin field work within the coming week.
“I have good news. We are rocking and rolling with our auditors. We are currently doing Monday morning weekly meetings with them, just to keep them accountable and to keep ourselves accountable with documentation going back and forth,” Holden said. She added that this morning’s meeting lasted four minutes because staff and the contractor are “doing pretty well.”
Holden noted the auditors did not start field work until the first or second week of November in the prior year, and staff are pulling account samples and supporting documentation (checks, journal entries, cash receipts) in preparation. The presentation to the committee said the audit remains aligned with the schedule previously presented to members.
The committee chair commended staff and the contractor for efficient coordination. “The only thing that I have is a 4 minute long meeting today is a testament of you and your team’s commitment to this process,” the chair said.
No formal action was taken; the discussion was informational.
The committee approved the June and July minutes earlier in the meeting.
