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Early considers annual examination now, full financial audit later ahead of March 31, 2025 deadline
Summary
The clerk reported a recommendation from an Auditor of State representative to complete an annual examination now rather than a full financial audit before the March 31, 2025 deadline, citing time and cost; the council asked the clerk to follow up and preferred a full audit when feasible.
City Clerk Lexi Wallace told the council on Aug. 6 that she spoke with a representative of the Office of the Auditor of State, who recommended performing an annual examination now (the required report) rather than a full financial audit before the March 31, 2025 deadline. The state representative told the clerk the full financial audit could not be completed in the roughly one month available even with an extension and estimated it would cost more than three times the expense of an examination.
Council members said they would prefer to maintain a full financial audit in principle but recognized the timing and cost constraints. The clerk said she would follow up with the state representative and report back to the council.
