Spring City accepts clean audit for fiscal year ended June 30, 2024

Spring City’s City Council unanimously accepted an independent audit of the city’s financial statements for the fiscal year ending June 30, 2024, after a presentation by Ron Stewart of the accounting firm Gilbert & Stewart.

Stewart told the council that auditors performed standard procedures — confirmations, invoice testing, analytical reviews and internal-control walkthroughs — and found the city’s financial statements to be “materially correct” and in conformity with generally accepted accounting principles. “In our opinion, the financial statements referred to above present fairly in all material respects the respective financial position of Spring City as of 06/30/2024,” Stewart said, describing the report as an unmodified, or “clean,” opinion.

Council members asked a few clarifying questions about the report period and controls testing. Stewart said the audit team did not identify any material weaknesses or reportable state-compliance findings in the areas they examined, and praised the city staff for cooperation during the fieldwork. The mayor thanked city staff by name for preparing the supporting documents that enabled the audit work.

The council moved to accept the audit. The motion, made by Marty McCain and seconded by Courtney (second named in the minutes), carried unanimously; roll-call votes recorded Randy Strait, Marty McCain, Ken Crow, Courtney (surname variants in the record), and Paul Penrod as voting yes.

The acceptance does not, by itself, require additional action; it concludes the city’s first-year audit with the new firm and places the report on public record. Council members said they appreciated the clean opinion and credited staff for the city’s financial work.

The council proceeded with the meeting’s remaining business after the vote.