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Town of Wickenburg, Arizona AUDIT RESULTS FOR THE PERIOD ENDING JUNE 30, 2025 1. Audit Process 2. Annual Comprehensive Financial Report 3. Report on Internal Control over Financial Reporting 4. Governance Communication 5. Annual Expenditure Limitation Report 6. Highway User Revenue Examination Report ©ADVISENT 2026 2 For Discussion Agenda: AUDIT PROCESS AUDIT TIMELINE ©ADVISENT 2026 3 Engagement Letter Issued & Management Meeting (July 2025) Preliminary Fieldwork (July 2025) Final Fieldwork (November 2025) Report Finalized (February 2025) ANNUAL COMPREHENSIVE FINANCIAL REPORT An unmodified “clean” opinion was given for the period ending June 30, 2025. ©ADVISENT 2026 4 Scope of Audit Services: § Perform an audit in accordance with U.S. generally accepted auditing standards, Government Auditing Standards. Audit Responsibilities: § Design procedures to provide reasonable assurance on financial reports, not absolute assurance. New Accounting Standards Implemented: § For the period ending June 30, 2025, the Town implemented the provisions of the following GASB Statements: § No. 101, Compensated Absences § No. 102, Certain Risk Disclosures Opinion Rendered: § An unmodified opinion was provided on the Annual Comprehensive Financial Report. ANNUAL COMPREHENSIVE FINANCIAL REPORT Key Pages ©ADVISENT 2026 5 Audit Opinion (Page 13): § Opinion on the financial statements. Management Discussion and Analysis (Page 17): § Discussion of key changes in financial activity. Basic Financial Statements (Page 26): § Financial data. Budget to Actual Schedules (Page 71): § Budgetary Comparison Schedules for the General Fund and major special revenue funds Statistical Section – Unaudited (Page 87) § Financial Trends, Revenue Capacity, Debt Capacity, Demographic and Economic Information, and Operating Information REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING ©ADVISENT 2026 6 Scope of audit services: § Review internal controls over financial reporting Results: § No significant deficiencies reported § Three material weaknesses reported § Material Audit Adjustments § Bank Reconciliations § Year-end Expenditure Cutoff § No noncompliance or other matters reported GOVERNANCE COMMUNICATION No disagreements were noted with management & we encountered no difficulties in performing the audit. ©ADVISENT 2026 7 Independence: § Advisent and all firm personnel were independent of the Town. Significant Accounting Estimates: § Management’s estimate of useful lives of capital assets. Non-audit Services Provided by Advisent: § Assistance in compiling the Annual Comprehensive Financial Report. § Finance Director mitigated risk of independence by performing review. Corrected Misstatements: § Grant recording, Sales Tax and State Shared Revenues Cutoff, Capital Assets, Expenditure Cutoff Annual Expenditure Limitation Report ©ADVISENT 2026 8 Services Performed: § Examined the Annual Expenditure Limitation Report for the fiscal year ended June 30, 2025, in accordance with the Uniform Expenditure Reporting System. Results: § The Town was under the expenditure limitation by $31,451,563. Highway User Revenue Examination Report Services Performed: § We examined the Town of Wickenburg, Arizona’s (Town) compliance as to whether expenditures made during the fiscal year ended June 30, 2025, from Highway User Revenue Fund monies received by the Town pursuant to Arizona Revised Statutes Title 28, Chapter 18, Article 2, and any other dedicated state transportation revenues received by the Town were used solely for the authorized transportation purposes prescribed in Article IX, §14, of the Arizona Constitution. Results: § No findings ©ADVISENT 2026 9 Thank you For any questions, please contact: Richard Gillespie, CPA, CFE, CGFM Senior Manager rgillespie@advisent.com C: (505)436-8696