Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit topic
No spam. Unsubscribe anytime.
Amity audit: independent auditors issue unmodified opinion; federal single-audit clean
Summary
Independent auditors presented the City of Amity's FY2024 audit, reporting an unmodified (clean) opinion on the financial statements and no findings in the single-audit of federal programs; auditors said federal expenditures totaled roughly $4.81 million.
The City of Amity received an unmodified ("clean") independent auditor's opinion for the fiscal year ended June 30, 2024, auditor Russ Reese told the council at its Nov. 6 meeting. Reese said the financial statements "present fairly in all material respects" the city's financial position and that the audit did not identify any internal-control deficiencies.
Reese reviewed the government-wide statements and the single-audit results for the city's federal grant activity. He reported total assets at just under $23,000,000, liabilities of $10,426,001.65, and a resulting net position of $12,670,919 as of June 30, 2024. Reese also said the city reported $4,814,008.51 in federal expenditures for the year and that the USDA Water and Waste Disposal Systems for Rural Communities program (CFDA 10.760) was audited as the major program; the single-audit and the compliance testing required by Oregon minimum standards produced no findings and an unmodified opinion.
Council members thanked staff and the auditors for timely and accurate records. Chair (speaker 2) said the report was "always great to be able to see this in front of us and hear that everything is as it should be." Reese noted one outstanding deliverable (the data-collection form), which his firm expected to prepare next week; staff said that deliverable is required for federal reporting but did not change the audit opinion.
The presentation concluded with the auditor's offer to answer questions; councilors had none that required further action at the meeting.
