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City controller: AFR submitted, audit exit conference set; 2022 debt-limit table error corrected
Summary
City controller Jeff McKim told the Finance Committee the city submitted its Annual Financial Report on Feb. 27 and that auditors scheduled an ACFR exit conference for April 2; he acknowledged a 2022 debt-limit table error that was corrected in 2023 and addressed public concerns about PDF accessibility and audit trails.
Jeff McKim, the city controller, told the Bloomington City Council Finance Committee that the city submitted its Annual Financial Report (AFR) to the state Gateway portal on Feb. 27 and that the auditors have scheduled an exit conference for Thursday, April 2 as part of the Annual Comprehensive Financial Report (ACFR) audit process.
"The AFR is an unaudited financial filing that all local units of government are required to make each year by March 1 for the preceding year," McKim said, adding that the AFR is a data output of the state's Gateway system and can be amended if errors are found.
McKim explained the difference between the AFR and the ACFR, saying the AFR is presented on a cash or regulatory basis while the ACFR is…
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