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Lake Alfred audit finds 'clean' opinion but flags internal controls, staffing needs
Summary
City auditors gave Lake Alfred an unmodified ("clean") opinion for the fiscal year but reported one material weakness, one significant deficiency and three management-letter findings; commissioners discussed NetSuite accounting timing and staffing to address the items.
Lake Alfred received an unmodified ("clean") audit opinion for the most recent fiscal year, city officials said June 22.
Auditors reported one material weakness and one significant deficiency in internal controls and three findings in the management letter, but found no material noncompliance with applicable laws. Finance Director Amber Deaton told the commission the results were an improvement from the prior year and said staff are working to address the documented items.
The commission discussed how the city's NetSuite accounting software spanned two fiscal years and that a journal entry from NetSuite lacked sufficient supporting detail. City Manager Ryan Leavengood and commissioners said the issues pointed to the need for additional finance staff and clearer procedures for year-end entries.
City staff characterized the findings as opportunities to strengthen controls rather than indications of deteriorating financial condition; the management letter showed fewer findings than the previous year, and the governance letter recorded no disagreements with management.
The audit presentation did not prompt any immediate policy changes; commissioners asked staff to return with steps to resolve the NetSuite timing and journal-entry documentation issues and to propose staffing adjustments.
