City officials receive clean audit opinion
ST. JOSEPH, Mo. (KQTV) -- City of St. Joseph officials said the City received a clean audit opinion for fiscal year 2025.
Hood and Associates conducted an independent audit of the City's financial statements, as well as separate audits of the City's Police Pension and Fund and the City's compliance with federal award expenditures, commonly referred to as the Single Audit.
The audits concluded that the City's financial statements are presented fairly in all material respects and in accordance with generally accepted accounting principles, according to a news release from the City.
The audit included a comprehensive review of the City's financial statements, internal control and compliance with applicable laws and regulations.
No material weaknesses or significant deficiencies were identified, per the release.
The auditors recommended that the City continue to monitor, update and maintain its financial policies and procedures and to evaluate and adopt new accounting pronouncements as they are established.
The city said that during the last year, it has implemented several new financial processes, including streamlined electronic bidding procedures, consolidating procurement across all departments and eliminating fund transfers.
During the auditor's presentation, continued prioritization of cybersecurity was emphasized as this has become a growing concern for government agencies nationwide.
The City said it has been implementing multiple new security measures in the last year to protect the integrity of its data and cyber infrastructure.
It has also earned the Government Finance Officers Association's Certificate of Achievement of Excellence in Financial Reporting for 34 consecutive years and is expected by its independent auditor to receive the award again for fiscal year 2025.
The certificate is the highest recognition in governmental accounting and financial reporting, honoring entities which exceed the minimum requirements of generally accepted accounting principles.
