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Franklin audit shows $52.6M net position; auditor flags internal-control staffing risk
Summary
An independent audit presented Sept. 8 gave the City of Franklin an unqualified opinion for fiscal year 2023–24 and reported a combined net position of about $52.6 million, while noting the finance office lacks segregation of duties because of limited staff.
The City of Franklin received an unqualified (clean) independent auditor’s opinion for the fiscal year ended June 30, 2024, but the auditor cautioned the city about limited segregation of duties in the finance office.
Kim Kirby, an audit partner with Kirby Moore LLP, presented the annual financial report and told the commission, “the audit opinion is a clean, clean opinion for the fiscal year ending June 30, 2024.” Kirby reported total net position for the city of approximately $52,572,174…
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