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Mason council receives 2024–25 annual and single audits as drafts amid pending federal guidance
Summary
The Mason City Council voted 6–0 to receive the 2024–25 annual audit and related single-audit materials as drafts after auditors said a pending federal compliance supplement prevents final issuance; auditors reported a clean opinion and no material weaknesses.
The Mason City Council on Tuesday voted 6–0 to receive the city’s 2024–25 annual financial statements and single-audit materials as drafts after the city’s outside auditors said federal guidance needed to complete the single audit has not yet been issued.
Ali Barnes, principal on the engagement, told council the U.S. Office of Management and Budget had not released the federal compliance supplement auditors rely on to complete testing for federal programs. "Until they produce the final compliance supplement, we are not able to issue your single audit," Barnes said, adding that if the supplement triggers additional testing it could change conclusions but that the auditors "do not expect that's going…
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