Hopewell staff present preliminary FY25 figures; auditors deliver draft FY22 ACFR with repeated internal-control findings

Stacy Jordan, deputy city manager and chief financial officer, presented preliminary fiscal-year 2025 figures to the Hopewell City Council, saying citywide revenues are up modestly but general fund revenues are roughly $473,000 lower than the prior year largely because of reduced ARPA funding and declines in certain tax categories. She told council the preliminary general-fund balance would be about $28,000,000, noting the figure excludes typical July revenue accruals of roughly $2,000,000.

David Foley, partner at Robinson Pharmacyl Associates, then reviewed the draft FY22 annual comprehensive financial report (ACFR). Foley said the auditors expect to issue an unmodified (clean) opinion on the city’s financial statements but repeated that the draft includes material weaknesses in internal controls similar to prior years. "The theme behind these findings are monthly reconciliations, tying out, doing bank reconciliations in a timely manner," he said, adding the federal compliance report showed no federal award findings.

Councilors pressed staff about timing and corrective steps. Foley and Jordan said the city is working through edits and quality control and provided a target timetable: finalize FY22 by mid‑August, move into FY23 audit work in August, and aim to complete FY23–FY25 ACFRs on a phased schedule the next 12–18 months. Jordan cautioned the ACFR figures are preliminary and do not include adjustments such as transfers, accruals or restatements.

The presentations close with staff offering to provide full draft reports to councilors for review. Council requested copies of the DEQ letter and other audit reports referenced in discussion so members can follow the city’s next steps and oversight priorities.