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Friendsville audit gets clean opinion; auditors note grant accounting entries
Summary
Rodefer Moss presented a clean audit for Friendsville, while noting a single finding—material adjusting entries related to how grant funds were recorded—and the board voted to accept the audit.
At the Jan. 12 meeting, Nicole Swint of Rodefer Moss presented the city's annual financial audit and said the firm issued a clean opinion. She explained a new accounting standard on compensated absences that affects how leave balances may be reported depending on use and highlighted one audit finding: "material audit adjusting entries," which she tied primarily to grant fund reporting.
Commissioner Shane Rogers moved to accept the audit and Commissioner Margaret Maze seconded; the motion passed. The transcript does not include dollar amounts associated with the adjustments or additional corrective actions beyond the auditor’s explanation.
