City of Sarasota receives ‘clean’ financial audit
Francesco Abbruzzino, The Uncensored Report, LLC
City of Sarasota, FL: The City of Sarasota received a ‘clean’ audit for the Annual Comprehensive Financial Report for the fiscal year ending Sept. 30, 2023. No findings or comments were noted.
“The audit was clean — excellent,” said City Manager Marlon Brown. “The bottom line: the City’s financial statements are in compliance and the City is in a strong financial position. This is an outstanding achievement for our Financial Administration team which should be recognized for their hard work and diligence, especially through some recent challenging times.”
Post-pandemic, the Finance team accomplished its regular workload with a reduced staff while taking on the monumental task of converting to a new ERP (Enterprise Resource Planning) software system, which manages the core financial functions and reporting for the City.
“This clean audit is the result of a lot of hard work,” noted Financial Administration Director Kelly Strickland. “We have a very dedicated staff. We have been using the new ERP system for one year now. During that time, we have not missed paying vendors, payroll, and now preparing financial reporting for the fiscal year end. The diligent teamwork of the Finance staff and other City departments has made this ERP conversion and clean audit possible. I couldn’t be more pleased with the audit results.”
The comprehensive audit, conducted by MSL CPAs & Advisors, inspected financial statements for Fiscal Year 2022-23. A standalone financial review of the Community Redevelopment Area was also conducted. Both audits resulted in an “unmodified opinion”, the highest level of assurance that can be issued. Internal controls were also tested and no weaknesses found.
The audit highlighted the City’s ability to meet liabilities with current assets. A healthy unassigned fund balance also positions the City to cover an unexpected emergency.
The audit reports were presented to the City Commission during its regular meeting Monday, May 6.
For more information about the Financial Administration Department visit www.Sarasotafl.gov
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