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HomeMy WebLinkAbout021323 State Auditor Exit Conference- Added After MeetingAmy Strzalka, CPA Program Manager Tammy Lane Audit Lead February 13, 2 Discllairner rhis presentalicM 11"s intended to be viewecl in conjunlcb on im 11 th the complete packel of exit nialerh�llls provicled, A copy c)f th)se materiahs rnay be retjue5fed by contc-u-ting ihep� esenters listed c)r by emailing PL�bli���Recort�,ls@SaO,IAI���,1,�]'�")V. I Results that Matter Accountability Audit Results January 1, 2020 through December 31, 2021 Results in Brief This report describes the overall results and conclusions for the areas we examined. In those selected areas, City operations complied, in all material respects, with applicable state laws, regulations, and its own policies, and provided adequate controls over the safeguarding of public resources. In keeping with general auditing practices, we do not examine every transaction, activity, policy, internal control, or area. As a result, no information is provided on the areas that were not examined. Accountability Audit Results Using a risk-based audit approach, for the City, we examined the following areas during the period: • Accounts receivable — utility billing, adjustments and collections • Accounts payable — general disbursements and credit cards • Payroll — gross wages, overtime, bereavement leave, leave cash outs, bonus and incentive payments and final pay to departing employees • Self-insurance for unemployment • Open public meetings — compliance with minutes, meetings and executive session requirements • Financial condition — reviewing for indications of financial distress Financial Audit Results January 1, 2020 through December 31, 2021 • Opinion issued in accordance with Regulatory Basis of Accounting (BARS Manual • Adverse Opinion on U.S. GAAP also issued • Audit conducted in accordance with Government Auditing Standards • We reported no significant deficiencies in internal control • We identified no deficiencies that we consider to be material weaknesses. • We noted no instances of noncompliance that were material to the financial statements of the City Financial Audit Results I Required Communications J • We didn't identify any material misstatements during the audit. • Uncorrected misstatements have been provided for review. Financial Audit Results The audit addressed the following risks, which required special consideration: Thank You! We would like to thank City staff, especially Finance Manager Ron Logghe and Public Experience Liaison Naomi Stern, for their cooperation and timely response to audit requests throughout the audit process. Closing Remarks 0 Audit costs are in alignment with our original estimate Next audit: Summer 2024 • Accountability for public resources (FY2022 & 2023) • Financial statement (FY2022 & 2023) • Federal programs (FY2023) An estimated cost for the next audit has been provided in our exit packet Report Publication v' Audit reports are published on our website. ✓ Sign up to be notified by email when audit reports are posted to our website: J.h..-q2_sjLsao.wa.Lov about- saoLs2ilin-u for -news -al elits ........................................................................................................................... 4: Audit Survey ? 1 When your report is released, you will receive an audit survey from us. We value your opinions on our audit services and hope you provide feedback. A u(jit j?e1)0j.t Cie C of ort 1 0 IT'n's ell Questions ?