Answer: Audit adjustments were necessary to ensure accurate financial statements for the City.
Trend: Lack of monthly financial reports for Management and the Board is a recurring issue.
List: Follow up on implementing regular financial reporting to improve oversight and accuracy.
Finding Text
Audit adjustments were required to prevent the City’s financial statements from being materially misstated. In addition, no financial reports are being provided to Management and the Board to review each month.
Corrective Action Plan
Management will look to strengthen this control by providing monthly financial reports to the Board to be reviewed.