The council voted to acknowledge receipt of the fiscal year 2023–24 Annual Comprehensive Financial Report (ACFR) and heard an audit presentation from Patillo, Brown & Hill.

Nut graf: Auditors issued an unmodified opinion on the financial statements but reported one material weakness related to timing and submission requirements for the single‑audit (federal grants) because the single‑audit reporting package had not been submitted within the required reporting window for grants exceeding the audit threshold. Auditors concluded that, aside from the timing issue, compliance testing on the selected grant (American Rescue Plan Act) showed the city complied in all material respects.

Cameron Aaron, audit supervisor with Patillo, Brown & Hill, summarized the engagement and findings, saying auditors are required to issue opinions under generally accepted auditing standards and to consider internal controls. He said: “There is 1 material weakness that we found… the city spent more than $750,000 … we actually picked the American Rescue Plan,” and explained that because the single‑audit submission deadline had not yet been met the finding relates to timing rather than substantive noncompliance. Aaron told the council that, in his view, the finding was among the milder forms of a material weakness and would not affect creditors or bondholders.

Finance Director Sherry Roberts and the auditor reviewed key financial highlights: general fund revenues were about $13 million with $12 million in expenditures, and unassigned general fund balance measured roughly 10½ months of expenditures (well above GFOA’s two‑month minimum recommendation). The auditor noted working capital and cash positions in enterprise funds were close to recommended benchmarks but explained some cash is restricted (impact fees), which affects readily available reserves.

Action: Councilmember Mosley moved, and another councilmember seconded, a motion to acknowledge receipt of the ACFR. The motion passed on a roll call vote, 6–0.

Ending: The council formally acknowledged receipt of the ACFR. Auditors and finance staff encouraged council members to contact the finance director or the auditor with follow‑up questions.