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City auditor issues clean opinion but flags repeated internal‑control weaknesses in Jackson’s FY2024 audit
Summary
Malden & Jenkins issued an unmodified (clean) opinion on Jackson’s FY2024 financial statements but reported repeat material weaknesses in internal controls — including revenue and expenditure recognition, interfund reconciliations and SLFRF reporting — and recommended management and audit‑committee follow‑up.
James Vince, a partner at Malden & Jenkins, presented the city’s fiscal 2024 financial audit and told the Jackson City Council the auditors issued an unmodified opinion, meaning “the financial statements as presented are materially correct.” The audit also triggered a required single‑audit because the city expended about $5.5 million in federal funds, including coronavirus state and local fiscal recovery funds, Vince said.
Despite the clean opinion, Vince and his firm reported material weaknesses and several repeat findings in the city’s internal control structure. He identified repeats in revenue recognition, expenditure recognition, interfund‑balance reconciliations and reporting controls tied to the SLFRF…
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