Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
Archdale receives clean FY2025 audit but must report corrective action on water and sewer assets
Summary
Auditors issued a clean opinion on Archdale'9s FY2025 financial statements but flagged the Water & Sewer Capital Assets condition ratio at 49.73%, below the 50% LGC threshold; the City must submit a written corrective-action response to the North Carolina Local Government Commission within 60 days.
Kang Moua of Martin Starns & Associates told the Archdale City Council on Jan. 27 that her firm issued a clean, unmodified opinion on the City'9s financial statements for the fiscal year ended June 30, 2025.
Moua said the audit review covered the Comprehensive Annual Financial Report and highlighted the General Fund balance and other standard sections of the report. She notified council members that the Water & Sewer Capital Assets condition ratio was 49.73%, below the 50% threshold used by the North Carolina Local Government Commission (LGC). Under LGC rules, that shortfall requires the City to submit a written corrective-action plan within 60 days describing how it will address the condition ratio.
The auditor praised City staff for cooperation during the audit process. The report otherwise reflected normal performance indicators and a standard closeout of the fiscal year.
City Manager Matthew Christian and staff said they would work with the auditor'9s office and legal staff to prepare the LGC response and follow the corrective action timeline. No formal motion was required; the report served as information to the City Council.
The City will send the corrective-action response to the LGC within the required 60-day window and return to Council with any recommended operational or capital steps proposed to improve the condition ratio.
