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City of Elko receives clean audit; council approves FY24–25 financial statements with clerical correction
Summary
Auditors reported a clean opinion on Elko’s FY2024–25 financial statements and no reportable internal-control findings; council approved the statements with a clerical amendment changing "revenue" to "fund balance" (decrease $905,188).
Auditors from Hinton Burdick presented the City of Elko’s fiscal year 2024–25 financial statements on Dec. 9 and issued a clean opinion, reporting no material modifications or reportable internal-control findings for the period.
Chad Atkinson, the engagement lead, told the council auditors tested federal-award programs, including Coronavirus State and Local Fiscal Relief Funds and the Drinking Water State Revolving Loan Fund, and found no reportable findings. Atkinson highlighted that the general fund operated within budget and that, across major funds, the city maintains multi-month reserve levels for operating expenses in key utility and enterprise funds.
City finance staff identified a drafting error in the management’s discussion and analysis: a line on page 10 used the word “revenue” where it should read “fund balance” and note a decrease of $905,188. Council moved to approve the financial statements with that correction and approved the audit unanimously.
Audit highlights presented during the meeting included a general fund balance of about $19 million at year-end, committed reserves set aside for next year’s budget, and strong utility fund positions driven in part by ARPA-funded capital additions. The auditor encouraged council members and the public to review pages 21 and 24 of the statements for fund-level detail.
The approval authorizes staff to finalize and file the statements and to proceed with standard reporting and follow-up steps. The council praised finance staff for the clean audit and for preparing materials in a manner accessible to nonfinancial audiences.
