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Council accepts FY2024 audit with findings, sets 12‑month corrective timetable
Summary
City auditors gave an unmodified opinion on Brooksville’s FY2024 financial statements but reported findings on investment‑policy compliance, inventory records and overtime payroll verification; council accepted the audit while requiring that corrective actions be completed within 12 months (vote 3–1).
CliftonLarsonAllen auditor Julie Fowler presented the audit results for the fiscal year ending Sept. 30, 2024, at the Jan. 5 Brooksville City Council meeting and said the firm issued an unmodified opinion on the city’s financial statements.
Fowler told council the numbers are materially correct under generally accepted accounting principles but identified several areas for improvement: a compliance finding because the individual responsible for investment decisions had not met the required training hours; internal control findings that included year‑end financial statement adjustments and issues stemming from implementation of a new inventory tracking system; and limited historical documentation for overtime payroll calculations in the Fire Department that prevented the auditor from verifying some prior calculations with 100% certainty.
On internal controls the auditors recommended reconciliations, checklists and coordination between finance and departments. Fowler said finance staff has already begun implementing a payroll code to make overtime easier to track and has plans to work with the Utility Department and inventory specialists to clean up the inventory system.
Council then considered a staff motion to accept the audit "as provided," acknowledge the deficiencies and require corrective actions to be completed within 12 months. One councilmember voted against the motion, saying she had just received the 150‑page audit that afternoon and had not had time to review it. The motion passed 3–1.
What it means: The unmodified opinion indicates auditors view the financial statements as materially correct. The council’s motion accepts the report while setting a one‑year timeline for corrective steps; staff said some corrective measures are already underway. The city emphasized that certain estimates in the financial statements (notably pension and OPEB liabilities) depend on external actuaries.
Ending: Auditors answered council questions about the nature of recurring adjustments; staff committed to completing the improvements and reporting progress to council.
