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City auditors give New Port Richey a clean opinion, cite two compliance findings
Summary
Malden & Jenkins presented the city's 2024 financial audit, issuing an unmodified opinion while reporting two findings: late financial statement preparation and material adjustments discovered during the audit; staff said expanded federal award activity (ARPA) required a single audit.
Malden & Jenkins presented the City of New Port Richey's annual financial report and issued an unmodified (clean) opinion for the fiscal year ended Sept. 30, 2024. Auditor Wade Hansberry told council the opinion means the financial statements "present fairly the financial position and results of operations" in accordance with accounting standards.
Hansberry said the audit identified two current-year findings. The first concerns noncompliance with state law requiring that financial statements be prepared by June 30 of the following year; the city did not meet that deadline. The second finding involved material adjustments that auditors needed to make during their review.
The auditors also said the city's federal award activity increased materially in 2024, triggering a single-audit requirement. The firm reported the single audit covered roughly $4.3 million of federal awards, including ARPA funds, which represented a substantial portion of the city's total expenditures for the year.
City staff thanked the audit team for their work and noted the presentation provided additional disclosures beyond what state law requires. Council members praised staff for cooperating with auditors and said they expected to review the management letter and required communications included with the audit report.
Hansberry said the firm remains independent and recommended continuing compliance improvements; city staff said they would brief council with written follow-up materials and the full management-letter details.
