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Council accepts FY2024 single audit; auditors flag nine internal‑control findings
Summary
The FY2024 single audit covering roughly $148 million in federal funds reported nine findings (four new, five repeated) related to bank reconciliations, payroll corrections, procurement documentation and late filings; CFO outlined corrective actions and council accepted the audit.
Stockton City Council accepted the city's FY2024 single audit at its March 31 meeting. Chief Financial Officer Gilbert Garcia summarized the auditors' report showing approximately $148 million in federal expenditures during the audit period and noting nine internal‑control findings: four new and five repeated from 2023.
Auditors identified issues including payroll‑related corrections (retroactive payments affecting more than 1,300 employees were discussed during the meeting), delayed or inaccurate financial reporting, incomplete procurement documentation and missed reconciliations. Garcia presented a corrective action plan that includes implementing a bank‑reconciliation module in the city's general ledger system, strengthening month‑end close procedures, documenting and standardizing processes and improving interdepartmental communications and training. CFO said many of the specific audit discrepancies have been corrected and that the city is moving toward monthly close and improved reconciliation practices.
Council accepted the audit report and directed staff to return with follow‑up materials for the audit committee and to provide updates on forensic‑audit options and internal audit capacity.
