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Broken Bow audit finds city finances stable despite routine control findings
Summary
The council approved the city's fiscal year 2024 audit, which described overall financial stability but noted two standard control findings related to segregation of duties and auditor-assisted preparation of financial statements.
The Broken Bow City Council on Oct. 28 approved the annual audit for the year ending Sept. 30, 2024, after an auditor from RJ Meyer and Associates told council members the city's books appear fairly stated and its budgeting practices are appropriate. The council voted unanimously to accept the report.
Bob Meyer, representing RJ Meyer and Associates LLC, told the council this was his firm's first year auditing the city. He said the audit shows stability across funds, debts, bonds and capital assets and that the city's proprietary accounts are consistent year to year.
Meyer described two audit findings: an internal-control issue stemming from limited staff that affects segregation of duties, and a condition where the city relies on the auditor to assist in preparing the financial statements. He characterized both items as standard for a city of Broken Bow's size and not concerning. The council moved to approve the audit after Meyer's presentation.
Mayor Rod Sonnichsen and councilmembers thanked staff for their cooperation during the audit. Administrator David Schmidt said anyone wishing a copy of the audit report should contact city hall.
