Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
City audit: Brea’s FY2023–24 financial statements earn unmodified (clean) opinion
Summary
Auditor Lancell & Lundgaard reported an unmodified opinion on Brea’s annual comprehensive financial report for the fiscal year ended June 30, 2024, with no internal-control findings and a clean single-audit of federal award programs.
City auditors Lancell & Lundgaard presented the annual comprehensive financial report (ACFR) for the fiscal year ended June 30, 2024 to the Brea City Council on Jan. 21 and issued an unmodified (clean) opinion.
Ryan Domino, partner with Lancell & Lundgaard, said the audit process included two phases: evaluation of internal controls and procedures in May 2024 and substantive balance testing in October 2024. He reported no findings in the report on internal control and compliance and a clean single-audit for the city’s federal award programs.
Domino noted that Governmental Accounting Standards Board Statement 100 changed presentation requirements for reporting major funds; he said the change affected formatting but not the underlying accounting.
Councilmember Vargas asked whether the city treasurer (Denise Eby) had been interviewed; auditors and staff said the treasurer reviewed the statements but was not interviewed during fieldwork and had opportunity to review the document in mid-December. No council action was required on the receiving-file audit report.
