Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the City Finance Audit topic
No spam. Unsubscribe anytime.
Lehi auditors give city a clean financial opinion, note year‑end timing adjustments
Summary
External auditors reported a clean GAAP opinion on Lehi’s comprehensive financial statements but noted a significant deficiency tied to year‑end trial-balance adjustments and timing differences; auditors said federal and state compliance testing found no material findings.
Lehi City auditors told the City Council on Wednesday that the city’s financial statements are materially correct under generally accepted accounting principles, yielding a clean opinion.
Dana Howell of Osborne Robbins Bueller presented the annual comprehensive financial report and highlighted that the auditors concluded the financial statements fairly present the city’s financial position (the auditor’s opinion appears on page 14 of the report). Howell said the audit does not evaluate internal controls for the purpose of detecting fraud and that no fraud was found.
Howell said a separate single-audit review of federal programs (triggered when federal expenditures exceed $750,000) identified the city’s major programs in recent years — including pressurized irrigation meter installation and the Flight Park well — and produced no findings related to federal grants.
The auditor did report a "significant deficiency" related to the trial balance and larger-than-normal audit adjustments at year end. Howell explained those adjustments are timing issues (for example, payroll recorded in the subsequent fiscal year or work‑in‑process accounting for inventory and capital projects) rather than indications of missing assets or fraudulent activity. Management has posted the adjustments, and Howell said such findings are routine in year‑end close processes.
Howell also summarized the state compliance letter (budgetary-compliance testing, restricted taxes and justice-court controls) and said the city had no state compliance findings this year. She noted one change in accounting policy about compensated absences (PTO) that had no significant effect on the statements.
Council members asked a few clarifying questions; Howell offered to provide additional detail on the trial-balance adjustments and other management letters if desired. No formal action was required at the meeting.
The council thanked the auditors and staff for producing the report.
