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State Auditor presents Snoqualmie FY2024 exit conference; financial statements receive unmodified opinion
Summary
At the March 9 council meeting the Washington State Auditor's Office reported an unmodified opinion on Snoqualmie's FY2024 financial statements and that the city "complied in all material respects" with review areas; SAO identified one uncorrected misstatement related to compensated absences valuation.
Snoqualmie — Representatives of the Washington State Auditor's Office (SAO) presented three draft reports on March 9 covering the accountability audit, the financial statement audit and a review of compliance with the Coronavirus State and Local Fiscal Recovery Fund requirements for the period 01/01/2024–12/31/2024.
Haji Adams, SAO audit manager, and Zach Schulten, audit lead, told council the SAO issued an unmodified opinion on the city's financial statements and did not identify any deficiencies in internal control considered a material weakness. "An unmodified opinion is what you want to receive," the audit lead said, adding the results indicate the city's financial statements are fairly presented in accordance with the BARS manual.
SAO reported the city "complied in all material respects" with the recovery‑fund program requirements for the audit period and will publish three reports on its website in about a week. June Lee, a SAO supervisor, said staff will send instructions for the city's attestation report to the U.S. Department of the Treasury and will email an audit survey to the city.
The SAO noted a single uncorrected misstatement related to the valuation of compensated absences tied to the city's implementation of BARS changes; auditors said they do not consider the misstatement material and expect management to correct it in the following audit cycle.
City staff and council thanked the audit team and the finance department for facilitating the review. SAO also pointed council to its Financial Intelligence Tool (sao.wa.gov) for comparative health metrics and offered complimentary technical assistance and resources for implementation and process improvements.
The SAO reports will be posted on the SAO website; the audit team said the draft reports should be finalized in about a week and the city will receive notifications when they are published.
