Jun 3, 2026Board meeting
Assembly Finance Committee Meeting
The committee meeting included a review of the annual audit for the city's various entities, including discussions on internal controls, financial statement preparation, and accounting software transitions. The external auditor presented findings regarding material weaknesses in financial reporting, specific adjustments made to bond and tax accrual records, and issues related to lease accounting. The committee also touched upon the timing of the audit process and plans for improving financial reconciliation and review procedures for the upcoming fiscal year.