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Larson & Company gives Mount Pleasant unmodified audit opinion; no current-year control findings
Summary
The city’s auditor reported an unmodified (unqualified) opinion on the fiscal year ending June 2024 financial statements, found no state compliance or control findings this year and noted one prior-year finding is resolved; the auditor emphasized internal-control responsibilities and fraud-risk assessment.
Larson and Company presented Mount Pleasant’s fiscal year 2024 audit on Dec. 30 and reported an unmodified (unqualified) opinion on the city’s financial statements and on the specific Utah compliance areas tested.
The auditor, Unidentified Speaker 12, summarized the firm’s work: balance-sheet and fund testing, assessment of required supplemental information (noted as unaudited), and review of compliance topics required by the Utah State Auditor’s guidance (budgetary compliance, fund balance, justice courts, restricted taxes, fraud-risk assessment and governmental fees). The auditor said the city’s opinions were unmodified and that the audit identified no current-year control findings or state-compliance findings. A control finding from the prior year — relating to documentation for certain disbursements to related parties — was reported as addressed.
Unidentified Speaker 12 stressed the council’s role in understanding and documenting internal controls and in signing required fraud-risk-assessment documentation. He described the audit focus areas and recommended maintaining and documenting controls over cash disbursements and segregation of duties.
The auditor also suggested staff explore grant opportunities to support capital projects (including metering) before pursuing federal grants that may carry additional compliance obligations. Council members asked procedural questions about which internal controls the firm tests and how those are documented; the auditor said the firm conducts walkthroughs of processes and identifies existing controls for testing.
The audit report will be issued formally on Dec. 2 and staff will follow up on the auditor’s recommendations concerning fraud-risk forms, documentation best practices and grant pursuit.
