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Ferguson Township Accepts 2024 Audit, Reports Healthy Fund Balances
Summary
External auditors delivered an unmodified (clean) opinion on Ferguson Township's 2024 financial statements, reporting a net increase in total governmental fund balance and no audit findings; the board accepted the audit.
Ferguson Township accepted an unmodified (clean) audit opinion for fiscal year 2024 at its May 6 meeting after a presentation by CPX auditors.
Audit principal Justin Sauer summarized the annual comprehensive financial report (ACFR), noting the township filed required disclosures on time and the ACFR is in draft form pending formal acceptance. Key financial highlights reported included an overall governmental funds increase (about $285,000 total), an unassigned fund balance of approximately $8.5 million, and a reported net pension liability in the neighborhood of $1.7 million (actuarially determined). The stormwater fund was closed out as part of adjustments described in the draft report.
Sauer told the board there were adjustments required to align statements with generally accepted accounting principles (GAAP) — routine year‑end items — but no disagreements, no reportable findings, and the auditors planned standard communications to management. The auditor called the year a positive experience and noted the township and audit team would have an easier process in subsequent years because of improved processes.
Outcome: Board moved to accept the 2024 audit; the motion passed by voice vote.
Next steps: the draft ACFR will be finalized and published; staff will use audit figures as an input to upcoming budget work and to pursue GFOA submission in a future cycle.
