Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
External auditors give Jackson City an unmodified opinion but warn fund balance fell below policy
Summary
James Vince, engagement partner at Mullen and Jenkins, told the Jackson City Audit Committee the firm issued an unmodified opinion on the 06/30/2024 financial statements but warned the city’s unassigned fund balance dipped below its 25% policy and that the city had about $3 million in expenditures over its adopted budget.
James Vince, engagement partner at regional firm Mullen and Jenkins, told the Jackson City Audit Committee the firm issued an unmodified opinion on the city’s 06/30/2024 financial statements but raised several concerns the committee should address.
“As your external auditor, we are independent of your management team … our objective in an audit is to issue an opinion as to whether or not the financial statements are materially correct as presented,” Vince said, describing the audit as a risk‑based, sampling process rather than an examination of every transaction.
Vince said the unmodified opinion depends in part on component units — specifically Jackson Energy and the Jackson Community Development Agency — receiving clean…
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
