title
Resolution Accepting the Annual Comprehensive Financial Report for the Year June 30, 2024
body
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Department: |
Finance |
Meeting Date: |
1/21/2025 |
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Contact Name: |
Michael Pirsch |
Public Hearing: |
No |
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Contact Phone: |
910-342-2771 |
Advertising Date/Advertised By: |
N/A |
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Attachments: |
Attachment #1: Resolution |
PURPOSE:
This resolution, introduced by Mayor Pro Tem Clifford D. Barnett Jr., Chairperson of the Audit Committee, accepts the Annual Comprehensive Financial Report (“ACFR”) for the year ending June 30, 2024. A copy of the ACFR was provided to Council on January 2, 2025.
BACKGROUND:
The audit of the ACFR was completed by PBMares, LLP, a firm of independent certified public accountants. The audit firm issued an unmodified opinion on the financial statements, the highest level of assurance that can be rendered. Their opinion indicates that the financial statements have been prepared in conformity with generally accepted accounting principles. The Audit Committee, which also includes Councilmembers Kevin Spears and David Joyner, reviewed the ACFR with the City Manager and the Finance Director at the regularly scheduled meeting of the Audit Committee on Jan 6, 2025.
The audit will be presented by James Sargeant of PBMares, LLP.
RECOMMENDATION / ACTION REQUESTED:
Passage of the attached Resolution is recommended.