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Horace audit gets clean opinion; council approves final report
Summary
Auditors from Eide Bailey told the Horace City Council the city received a "clean audit opinion" for fiscal year 2024; council reviewed four routine findings and voted to accept the audit as presented.
Auditor Mason Erstead of Eide Bailey told the Horace City Council on Sept. 2 that the city had received a “clean audit opinion,” meaning the financial statements were free from material error after the firm’s risk‑based testing.
The audit presentation summarized results and recurring observations. Erstead said the audit team identified four financial‑statement findings common for a city of Horace’s size: segregation of duties, adjusting journal entries, the preparation of financial statements and account‑reconciliation differences. “Once we came to the end of that, we said, yep, city received a clean audit opinion,” Erstead said.
Council members asked no substantive questions during the presentation. The mayor then called for a motion to approve the audit as presented; a councilmember moved, a second was given and the motion carried by voice vote.
Why it matters: A clean audit signals that the city’s reported financial position and results can be relied on by elected officials, bondholders and the public. The recurring findings largely reflected staffing limitations and standard year‑end adjustments rather than material weaknesses, the auditor said.
The council did not request additional follow‑up beyond routine review of corrective actions; the audit will be posted with the city’s fiscal documents.
