Audit 378635

Criteria - According to 2 CFR §200.512, non-federal entities must submit their audit reports, including financial information, to the Federal Audit Clearinghouse (FAC) within nine months after the end of the audit period. Condition - The City did not submit its audited financial information for the year ended December 31, 2023, to the FAC by the required deadlines. Cause - The City’s financial statements required significant audit adjusting journal entries. Effect - The City is currently not meeting the reporting requirements mandated for federal awards. Repeat Finding - This is a repeat finding of the item 2022-001 as reporting for the year ended December 31, 2022. Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample. Questioned Costs - None identified. Recommendation - The City should reconcile all its balance sheet accounts at year-end. Views of Responsible Officials and Planned Corrective Actions - (a) Implementation Plan of Actions - The City will reconcile its balance sheet accounts at year-end. (b) Implementation Date - This will be implemented for the year ending December 31, 2026. (c) Persons Responsible for Implementation - The Director of Finance and the City Council.