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Council accepts FY 2023–24 audit; independent auditor issues clean opinion
Summary
The Monte Sereno City Council accepted the fiscal-year 2023–24 financial audit after Mason Associates issued an unmodified (clean) opinion and flagged internal-control improvements the city will address.
The Monte Sereno City Council voted to accept the fiscal year 2023–24 financial audit after the city's independent external auditors issued a clean opinion. David Albee, audit partner at Mason Associates, told the council the firm issued "an unmodified opinion, so that's a clean opinion," and walked trustees through the firm's key findings.
Albee summarized financial highlights, saying cash dropped slightly from about $6.5 million to $6.3 million and property-tax revenue rose by roughly $197,000 year over year. He also told the council the audit memorandum identified 12 areas for improvement in internal controls, including several material weaknesses and four significant deficiencies, and said staff were already working to address them. Council members thanked staff for the work and moved to accept the report; the motion carried with no opposition.
The council requested that staff continue efforts to accelerate the audit schedule so more work can be done earlier in the fiscal year and to return with implementation steps for the internal-control items noted in the management letter.
