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City audit delayed as auditors await federal guidance tied to government shutdown
Summary
Loudon City officials told the council that the annual audit is delayed because auditors are awaiting guidance from the U.S. Office of Management and Budget tied to a federal government shutdown; the city said it still meets the state filing deadline of Dec. 31.
City officials informed the Loudon City Council that the city's annual audit is delayed because auditors are awaiting guidance from the U.S. Office of Management and Budget related to the federal government shutdown.
The city recorder said the audit team had planned to file by Oct. 31, but because Loudon participates in a single audit (the city and the utility expended more than $1 million in federal funds), auditors must wait for OMB guidance before finalizing reports. City staff reported they are reviewing draft reports and expect to finalize them once federal guidance is issued and that they remain within the state deadline of Dec. 31.
No formal action was taken during the meeting; staff said they would finalize and file the audit as soon as guidance arrives.
