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Finance director cites bank‑reconciliation backlog and staffing gaps for FY24 audit delay
Summary
Finance Director Josh McNeil IV told council a five‑to‑six‑month backlog in bank reconciliations and an abbreviated staff transition delayed the FY24 audit; he outlined SOP changes, a senior accountant hire and a move toward a formal audit contract.
Josh McNeil IV, the city's Finance Director, told the governing body that the FY24 audit fell behind schedule largely because of a backlog in bank reconciliations and an abbreviated transition at the finance director position. McNeil said the city typically finishes monthly bank reconciliations by mid‑August following year‑end, but the FY24 reconciliations were not completed until late February 2025.
McNeil said the late prepared‑by‑client (PBC) list and a change in the lead auditor contributed to…
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