Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
City auditor reports $7.7M net position and unmodified opinion possible; council approves audit
Summary
The city27s contracted auditor presented the fiscal-year 2023-24 audit, reporting a total net position of about $7.7 million, an unassigned general fund balance near $2.9 million and a $954,000 increase over the prior year; council approved the audit unanimously.
The city27s contracted auditor presented the fiscal-year 2023-24 audit to the Gunner City Council on July 17 and the council voted to approve the audit on the same night.
Mike Brooks, the auditor representing the firm identified in the meeting packet, described the audit process—planning, fieldwork and sampling of material transactions—and explained the components of the annual financial report including the auditor27s opinion, management discussion, notes and required supplementary information. He told the council that "when we get an unmodified opinion that means that all of the numbers in the financial statements we're sending are materially accurate" and reviewed highlights: a total net position of roughly $7.7 million, governmental funds ending balance just under $4.9 million, and an approximate $954,000 increase in net position over the prior year.
Brooks also noted shifts in how sanitation is presented (moved to enterprise/internal funds) and that property-tax revenue rose while some charges-for-service fell. After the presentation the council moved, seconded and approved the audit for 2023-2024; the motion was recorded as carrying unanimously.
The auditor invited follow-up questions and provided contact information for the firm to address technical questions about notes and disclosures.
