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Levelland auditors issue clean opinion; council accepts 2022–23 audit
Summary
Bollinger, Seager, Gilbert and Moss LLP presented an unmodified (clean) audit opinion for Levelland’s 2022–23 fiscal year; the city council heard highlights of cash, liabilities and project activity, then voted to accept the audit by voice vote.
Auditors from Bollinger, Seager, Gilbert and Moss LLP presented the City of Levelland’s financial report for the year ended Sept. 30, 2023, and the council voted to accept the audit following a brief question-and-answer period.
David Copeland, partner in charge of the audit for Bollinger, Seager, Gilbert and Moss LLP, told the council the firm issued an unmodified (clean) opinion on the city’s financial statements and found no material weaknesses or significant deficiencies in internal control. "We're giving clean opinions on those financial statements, which are unmodified, and that's what you want to see," he said.
Copeland reviewed key totals and adjustments in the audit report. He reported $36,546,006.81 in cash and cash equivalents and described about 31 audit adjusting entries the firm recommended, largely tied to capital-asset accounting, reclassifications for proprietary funds, pension and OPEB liabilities, and certain cutoff procedures for accounts receivable and accrued wages. "A lot of the stuff's being expensed, but you gotta put it back on the balance sheet," Copeland said when describing the required reclassifications.
The auditor outlined project-related activity reflected in the financials, including completion of an Economic Development Administration (EDA) grant project, purchases of vehicles, park improvements and ongoing work on a wastewater treatment plant. Copeland reported the city had a positive change in net position of $3,932,860 for the year and general revenues and transfers totaling $12,323,242.
Council members asked for a brief road map of the report’s contents; Copeland said pages 5–42 cover fund financial statements, notes and disclosures, required supplementary information and combining statements in the back.
An unidentified council member moved to accept the audit as presented by Bollinger, Seager, Gilbert and Moss LLP for the period ending Sept. 30, 2023; the motion was seconded. The council voted by voice; those present said "Aye," and the mayor (chair) declared the motion carried with no recorded opposition.
Speakers and staff thanked the audit team and city finance staff for completing the reconciliations and closing the audit; Copeland recommended continued routine reconciliations and noted the city’s new finance staff member was undergoing training to maintain ongoing entries. The council adjourned after the vote.
