Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Independent auditor identifies three AUP findings, recommends transfers and policy fixes
Summary
Auditor Ben Peralta presented an agreed-upon-procedures report for FY2024-25, reporting three findings: excess general-fund unassigned balance, budget approval after the statutory deadline, and missing conflict-of-interest disclosures; he recommended transferring excess balance to capital projects and adopting disclosure procedures.
Ben Peralta of CJ Burnham at Gilbert and Stewart presented the town's agreed-upon-procedures (AUP) report for fiscal year 2024-25 at the Feb. 2 Daniel Town Council meeting.
Peralta said the town qualifies for an AUP because annual expenditures were under $750,000. He summarized three findings: (1) the general fund's unassigned balance exceeded allowable limits relative to general revenue and he recommended transferring the excess to the capital-projects fund or otherwise budgeting those monies for future projects; (2) the budget for the next fiscal year was approved after the statutory deadline (after June 30), and (3) the town lacked required conflict-of-interest disclosures signed by council members. Peralta noted the report packet includes those findings and a summary balance sheet and revenue/expenditure schedules.
Peralta closed by urging the town to address the items in the next budget cycle and thanked staff for providing supporting information. Council members asked clarifying questions about who signs disclosures and prior federal funding that had required full audit procedures in earlier years.
