Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit topic
No spam. Unsubscribe anytime.
Finance director: FY25 audit work ongoing; delay requested and accepted by auditor
Summary
Franklin's finance director told council the FY25 general ledger review found items needing correction; he said he submitted a delay-of-audit letter requesting an extension until 2026 and that auditors accepted the request.
Mr. DeLine, identified by the mayor as Franklin's Director of Finance, briefed council on the status of the fiscal year 2025 audit and said the finance team is reviewing the general ledger to identify transactions that were not entered or require correction.
He said the process has uncovered items that must be corrected before the audit can be completed. Mr. DeLine said he had prepared a delay-of-audit letter asking for an extension "until the 2026," and that the auditor had accepted the letter and was aware of the city's situation.
Council did not take immediate action on the audit item during the meeting but the finance director said staff would work with the auditor and the city's software provider to complete required corrections and proceed with the audit planning meeting scheduled with the audit firm.
Why it matters: An audit delay can affect financial reporting timelines and may require staff time to correct ledger entries before an independent audit opinion is issued.
What happens next: Finance staff will work with the auditor and software provider to make corrections and proceed with audit planning and fieldwork.
