HomeMy WebLinkAboutCouncil Presentation 02/07/2023 - Independent Auditors Report PresentationTown of Marana
Independent Auditors’ Report
Presentation to Town Council
Year Ended June 30, 2022
2
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
3
Communications with Town Council and Management
•Baker Tilly’s Responsibility under U.S. General Accepted Auditing
Standards (GAAS)
•Stated in engagement letter dated May 10, 2022
•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
4
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 $ 158,915,530
Town Expenditures Subject to Limitation 91,004,408
Amount under the expenditure Limitation $ 67,911,122
5
Communications with Town Council and Management
•Other Reports
•Single Audit
•Town Expensed $9,987,228 of federal funds in 2022
•Major programs were:
•21.027 –Coronavirus State and Local Fiscal Recovery Funds
•Town received an unmodified opinion on the federal single audit report
6
Findings and Recommendations
•Findings
•No Findings reported in 2022
•Recommendations
•No recommendations reported in 2022
7
Financial Highlights
-
100
200
300
400
500
600
700
Assets Liabilities Net Position Revenues Expenses
Total Government-Wide (In Millions)
2021
2022
8
Financial Highlights
-
20,000,000
40,000,000
60,000,000
80,000,000
100,000,000
120,000,000
2020 2021
Fund Balance -Governmental
All Governmental Funds
General Fund
9
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
2020
2021
2022
Questions?