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West Fargo accepts clean 2024 audit; auditors flag segregation‑of‑duties and financial‑statement preparation findings
Summary
Eide Bailly issued an unmodified opinion on West Fargo's 2024 financial statements and a clean single‑audit; auditors recommended improvements on auditor‑prepared financials/material journal entries and segregation of duties due to finance‑office turnover.
The West Fargo City Commission accepted the City’s 2024 audit on Sept. 22 after a presentation by John Hagen of Eide Bailly.
Hagen said auditors issued an unmodified (clean) opinion on the financial statements as of Dec. 31, 2024, and an unmodified opinion on the single audit for federal awards. He flagged recurring findings: auditor involvement in preparing financial statements and proposed material journal entries, and a segregation‑of‑duties weakness linked to recent turnover in the finance office.
Hagen also noted the single‑audit requirement was triggered because federal‑award expenditures exceeded the $750,000 threshold; staff reported approximately $2.2 million in federal expenditures for 2024 and said no compliance findings were identified in that area. Hagen presented high‑level fund balances: total cash/investments across the city (presented in the slides as roughly $110,000,000 in thousands), a general fund net change of about ($4,500,000) and an ending general‑fund balance around $14,400,000.
Commissioner Zundell moved acceptance; Commissioner Olson seconded and the motion carried by voice vote.
