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City auditor reports unmodified 2024 audit, flags segregation-of-duties risk
Summary
Richard Hooper of LMHN told the Nokomis City Council the firm issued an unmodified audit opinion for 2024, noted a typical lack of segregation of duties for a small municipality, and said a single-audit compliance review applies when federal fund receipts reach $750,000.00.
Richard Hooper, representing audit firm LMHN, presented the City of Nokomis’ 2024 audit and said the firm issued an unmodified opinion on the city’s financial statements. Hooper told the council the audit did not identify anything "out of the normal" but noted a lack of segregation of duties — a common condition in small communities — that the firm highlighted for council awareness.
Hooper also said LMHN was contracted to perform single-audit compliance reviews for programs when the city receives $750,000.00 or more in federal funds and that the firm would aim to begin next year’s audit sooner than this year when scheduling conflicts delayed the start. Mayor Dylan Goldsmith and commissioners asked procedural questions; no formal action followed the presentation.
