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Jamestown auditors: 2024 shows $944,000 use of fund balance, ARPA funds drive testing
Summary
External auditors told the Jamestown City Council that fiscal 2024 ended with a $944,000 draw on the general fund and that nearly $8.5 million in federal awards (largely ARPA-related) required expanded single-audit testing; auditors noted improved audit preparedness but retained an internal-control comment on segregation of duties.
The city's external auditor presented fiscal year 2024 financial statements and single-audit findings to the Jamestown City Council, reporting a $944,000 net use of general-fund balance for the year and saying the city's unassigned fund balance fell to just under $5.0 million.
The auditor said the city's schedule of federal expenditures for 2024 totaled "just shy of 8 and a half million dollars," a level that triggered testing of three federal programs rather than the single program usually tested. The auditor tied the elevated federal award totals to ARPA stimulus spending and said 2023 had roughly $10 million of ARPA activity while 2024 was closer to $5 million, which distorts year-to-year…
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