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Jackson audit issues clean opinion but flags repeated internal-control weaknesses
Summary
External auditors issued a clean (unmodified) opinion on Jackson’s FY24 financial statements and compliance for the coronavirus relief program, but the audit included repeat internal-control findings (reconciliations, revenue/expense recognition and interfund balances) that the city says stem from system transitions and staffing turnover.
James Vince, a partner at Malden and Jenkins, told the Jackson City Council on Nov. 4 that the firm issued an unmodified (clean) opinion on the city’s June 30, 2024, financial statements and on compliance testing for the Coronavirus State and Local Fiscal Recovery Funds. Vince said auditors proposed adjustment entries that were included in the financial statements and that those adjustments produced findings and several material weaknesses in internal control.
Council members pressed auditors and city staff about repeated findings from prior years. The audit identified four repeat issues: revenue recognition, expenditure…
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