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Belton receives FY2024 audit; auditors qualify Water Fund opinion over year‑end inventory
Summary
BT and Company presented Belton’s FY2024 financial statement audit, noting three uncorrected misstatements (deemed immaterial) and a qualified opinion limited to the Water Fund because auditors could not observe year‑end physical inventory; management provided responses and a management letter outlining internal control deficiencies.
BT and Company principal Emily Sheldon told Belton City Council that the firm completed its fiscal‑year 2024 financial statement audit and issued a qualified opinion limited to the Water Fund after auditors were unable to observe the city’s year‑end physical inventory for that fund. "The city's estimates did appear reasonable," Sheldon said, while noting auditors recorded three uncorrected misstatements that were considered immaterial to the financial statements.
Sheldon outlined procedures performed under applicable accounting standards, including tests of…
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