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Staff: Three audits underway, including a federal single audit tied to >$1,000,000 in federal spending
Summary
Finance staff said auditors have begun an intensive review, requesting many documents; they described a routine audit, a single (federal) audit because federal spending exceeded $1,000,000, and a DOT audit that may meet a 750k–1M threshold.
City staff told the committee that the 2025 audit work is underway and that auditors have been intensively requesting records. "The audit is just they're they are literally relentless," the staff member said, noting hundreds of requests for invoices, contracts and supporting documents.
Staff outlined three audits: the routine financial audit, a single audit triggered by having spent more than $1,000,000 in federal funds, and a DOT-related audit whose threshold staff described as roughly between $750,004 and $1,000,000. Staff said the federal audit deadline is the nearest and that they aim to complete deliverables to meet that schedule.
Committee members asked clarifying questions about seasonality and whether midyear numbers were meaningful for year-end projections; staff reiterated that final revenue and expenditure totals determine the bottom line. No formal action was taken; staff said they will continue to respond to auditor requests and report status updates to the committee.
