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City auditors give Provencourt a clean opinion; single-audit underway for $4.1M airport grant
Summary
The city received a clean, unmodified opinion on its fiscal year financial statements; auditors are completing a single-audit of federal grants and are reviewing about $4.1 million in airport improvement costs.
The Provencourt City Council received an information-only presentation from the finance director and the city’s external auditors, who reported a clean, unmodified opinion on the city’s fiscal-year financial statements.
Finance Director Hamed told the council staff had completed the year-end audit and submitted the annual comprehensive financial report for recognition by the Government Finance Officers Association. Hamed said the auditors found no material deficiencies in internal controls and that the city’s general fund remains healthy.
Auditor Greg Van Kannel of Van Lanten Van Kannel LLP told the council the firm finished the financial-statement audit and is concluding a single-audit of federal grants. “We’re auditing the airport improvement grant, which is you had about 4,100,000 in costs last year that were…subject to the single audit right now,” Van Kannel said, and indicated the single-audit work should be finished in a couple of weeks.
Councilmembers thanked auditors and staff for their work; multiple members praised the finance department and noted improvement in the audit process over time. No material weaknesses or required corrective actions were reported during the presentation.
The auditors also noted transfers to capital funds totaling several million dollars for street and other projects; they reported revenue exceeded expenditures by roughly $3 million before transfers.
