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Port Jervis council approves $40,000 to finish 2023 reconciliation after Moody's notice
Summary
Finance chair said auditors paused the city's 2023 audit and Moody's notified the city it may suspend its rating; council approved a $40,000 allocation from contingency (amended for an accounting firm) to complete outstanding reconciliation items and file the 2023 AFR.
Mrs. Fuller, speaking as the finance representative to the council, told members the council had "inherited a tremendous amount of issues" in the city clerk's office and that outside accountants had been retained to help close the 2023 books.
Fuller said O'Connor Davies stopped the audit midway and issued a punch list of…
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