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Carson City accepts audited financial report, auditors give clean opinion
Summary
The Board of Supervisors unanimously accepted the city's 2024 ACFR after staff noted minor edits and one budget violation tied to the medical insurance fund; auditors reported an unmodified opinion and labeled the city a "low risk auditee."
Carson City's Board of Supervisors voted unanimously to accept the city's annual comprehensive financial report as amended after staff and the independent auditors flagged a small number of editorial corrections and one budget violation.
Pam Ganger, who presented the report, told the board that the draft needed three edits on the record: replace a general reference to a "facility" with the "emergency operations center," remove a sentence that staff said did not apply, and correct the statistical line that reports the number of fire engines (Pam said the correct number is 12 for each of 2023' 2025). She also told the board the medical-insurance fund exceeded its budget appropriation because retiree insurance expenses were higher than forecast.
Chad Atkinson of audit firm Hinton Burdick, the lead audit partner on the engagement, reported that the auditors issued an unmodified (clean) opinion on the city's financial statements and that federal-award testing produced no findings. Atkinson said the city is classified as a "low risk auditee" under federal standards. "We didn't have any corrected or uncorrected misstatements," he told the board.
Board members asked clarifying questions about recent Governmental Accounting Standards Board (GASB) changes. Atkinson and staff explained that several new GASB statements require noncash reporting of liabilities such as compensated absences and other postemployment benefits, which can produce negative net positions on certain internal funds without creating a short-term cash-flow problem.
Mayor Bagwell moved to accept the report as amended and to authorize staff to make the stated edits to the packet. The motion passed on a unanimous voice vote. The board recorded no findings for material misstatements or compliance exceptions for fiscal 2025.
The mayor and several supervisors praised the finance team and the auditors for completing the report on time and for producing materials intended to help the public understand the city's finances. The board did not direct any additional audits or require further immediate corrective action beyond the presentation edits and routine follow-up on the medical-insurance fund.
Next steps: staff will update the ACFR text and the packet paragraph identified for correction; the audit partner offered to respond to follow-up questions by email or phone.
