HomeMy WebLinkAboutCouncil Presentation 02/01/2022 Audit 2021Town of Marana, Arizona
Independent Auditors’ Report
Presentation to the Town Council
Year Ended June 30, 2021
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Required Communications with Town
Council and Management
•Auditors’ Report on the Financial Statements
–Unmodified opinion
•Reasonable assurance the financial statements are fairly
presented in accordance with GAAP.
•Report on Compliance and on Internal Control over
Financial Reporting
–Unmodified opinion
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Communications with Town Council and
Management
•Henry + Horne’s Responsibility under U.S. General Accepted Auditing Standards (GAAS)
–Stated in engagement letter dated May 10, 2021
–Internal control properly designed and implemented
•Significant Accounting Policies and Issues Discussed
–Note 1 of Financial Statements
–Difficulties Encountered in Performing the Audit –None encountered
–Corrected and Uncorrected Misstatements –No uncorrected misstatements
–Disagreements with Management –No disagreements
–Management Consultations with Other Auditors “Audit Shopping” -None noted
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Communications with Town Council and
Management
•Other Reports
–Annual Expenditure Limitation Report (AELR)
•Issued to the Arizona State Auditor General timely
Economic Estimates Commission Limitation $ 149,259,265
Town Expenditures Subject to Limitation 99,051,341
Amount under the expenditure Limitation $ 50,207,924
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Communications with Town Council and
Management
•Other Reports
–Single Audit
•Town Expensed $17,943,321 of federal funds in 2021
•Major programs were:
–CARES Act,
–American Rescue Plan Act,
–Capitalization Grants for Clean Water State Revolving Funds,
–Capitalization Grants for Drinking Water State Revolving Funds
•Town received an unmodified opinion on the federal single audit report
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Findings and Recommendations
•Findings
–No Findings reported in 2021
•Recommendations
–No recommendations reported in 2021
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Financial Highlights
-
50
100
150
200
250
300
350
400
450
Assets Liabilities Net Position Revenues Expenses
Total Government-Wide (In Millions)
2020
2021
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Financial Highlights
-
20,000
40,000
60,000
80,000
100,000
120,000
2019 2020 2021
Fund Balance -Governmental
All Governmental Funds
General Fund
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Financial Highlights
-
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
Water Wastewater Airport
Fund Balance -Enterprise Funds
2019
2020
2021
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Questions