Allen auditors issue clean opinion; council accepts FY2024 comprehensive financial report

Allen's city council heard a presentation from the city's external auditors and accepted the fiscal year 2024 annual comprehensive financial report on a motion that passed during the regular meeting.

Brent Young, director at Weaver and Tidwell, told the council the firm issued an unmodified opinion on the city's September 30, 2024, financial statements and found no material weaknesses, no significant deficiencies and no material noncompliance related to the financial statements. "We issued an unmodified opinion," Young said, summarizing the audit findings.

Young highlighted several high-level figures: an unassigned general fund balance of roughly $34.3 million (about 26 percent of annual general fund expenditures), a $1.8 million or 6 percent increase in the general fund during the year, and growth across several enterprise and nonmajor funds. He said operating revenues in the water and sewer fund rose about $6.1 million (10 percent) while operating expenses rose about $2.7 million (5 percent), and that the city qualified as a low-risk auditee for federal awards because it had no findings over the prior two years.

City leaders noted the report follows an extensive audit-committee review. Council member (speaker 12) moved to accept the report; council member (speaker 23) seconded, and the motion passed on a council vote described on the record as passing (no roll-call tally was read aloud).

The council's acceptance requires no further action; the auditor's unmodified opinion will be used in future external disclosures and was described at the meeting as a positive confirmation of the city's financial controls and reporting for FY2024.

Next steps: staff and the auditor said they would make the report available to the public and incorporate the results into the city's disclosure process. No additional council action was requested at this meeting.