HomeMy WebLinkAboutPresentation_Regular_4/11/2024 (4)2023 PRESENTATION OF www.mjpca.comWade Sansbury, CPA, PartnerPresented by:VILLAGE OF TEQUESTA, FLORIDAAUDIT RESULTS TO:
1 Questions and CommentsHighlights of General Financial Information for VillageGovernment Auditing StandardsRequired Communications under Overview of Audit Opinions and Annual Comprehensive
Financial ReportInformation about Mauldin & JenkinsAgenda April 30, 2024Audit ResultsPresentation of
2 basisannualanonclientsourtoQuarterlyCPEFreeOffer.StatesUnitedtheinauditssingleconductingfirmsallof20toptheinbetoconsideredisFirmReportingFinancialinExcellenceforAchievementofCertificateGFOA’sther
eceivinggovernments170overincludingSoutheast,theingovernments700overtoservicesprofessionalprovideWeorganizationauditregionalLarge1918FoundedMauldin & Jenkins, LLC April 30, 2024Audit
ResultsPresentation of
3 Mauldin & Jenkins, LLC April 30, 2024Audit ResultsPresentation of
4 Information; Operating InformationFinancial Trends Information; Revenue Capacity Information; Debt Capacity Statistical SectionFinancial Statements and FootnotesIndependent Auditor’s
Report; Management Discussion & Analysis (MD&A); Financial Sectionof Achievement for Excellence in Financial ReportingLetter of Transmittal; Organizational Chart; Directory of Officials;
CertificateIntroductory SectionGeneral Information About the Annual Comprehensive Financial Report April 30, 2024Audit ResultsPresentation of
5 General Information About the Annual Comprehensive Financial Report Our responsibility does not extend beyond financial information contained in our report.Presented fairly in accordance
with accounting principles generally accepted in the United States of America.Unmodified (“clean”) opinion on basic financial statements. Report on Basic Financial StatementsThe basic
financial statements are the responsibility of the Village’s management.material misstatement.assurance that the basic financial statements are free of —not absolute—Our objective
is to provide reasonable. Government Auditing StandardsOur audit was performed in accordance with GAAS and financial statements and not for the purpose of providing an opinion on
the effectiveness of internal controls. We considered the internal control structure for the purpose of expressing our opinion on the Village’s basic Our Responsibility Under Auditing
Standards Generally Accepted in the United States of America (GAAS)Audit Opinion April 30, 2024Audit ResultsPresentation of
6 require a federal or state single audit. The Village did not receive or spend in excess of $750,000 in federal or state awards during 2023 and as such did not Single AuditWe reported
no current year findings..Government Auditing StandardsThis report and the procedures performed are required by applicable rules and regulations. laws, regulations, etc. The report
is not intended to provide an opinion on internal controls and compliance with The financial report package contains a report on our tests of the Village’s internal controls and compliance
with Compliance Report General Information About the Annual Comprehensive Financial Report April 30, 2024Audit ResultsPresentation of
7 There were no disagreements with management on accounting issues or financial reporting matters.We received full cooperation from the Village’s management and staff.Relationship
with Managementincluding actuarial assumptions.–The Village uses various estimates as part of its financial reporting process events.on management’s knowledge and experience about
past and current events and assumptions about future Accounting estimates are an integral part of the financial statements prepared by management and are based Management Judgment/Accounting
Estimatesissues for which guidance is not available.In considering the qualitative aspects of its policies, the Village is not involved in any controversial or emerging The policies
used by the Village are in accordance with generally accepted accounting principles.. SBITAsNo. 96, During the current year, the Village implemented Governmental Accounting Standards
Board (GASB) Statement The significant accounting policies used by the Village are described in Note 1 to the basic financial statements.Management is responsible for the selection
and use of appropriate accounting policies.Significant Accounting Policies Required Communications April 30, 2024Audit ResultsPresentation of
8 considered as part of our audit. used in accumulating the statements. The overall neutrality, consistency, and clarity of the disclosures was process used by management to accumulate
the information included in the disclosures was the same process The footnote disclosures to the financial statements are also an integral part of the financial statements and the Financial
Statement DisclosuresThere were no unrecorded or passed audit adjustments.Audit Adjustmentsthat may have affected the risk of material misstatement of the financial statements.There
were no significant issues discussed with management related to business conditions, plans, or strategies Significant Issues Discussed with Managementindependent accountants during
the year, nor did we face any issues requiring outside consultation.To the best of our knowledge, management has not consulted with, or obtained opinions from, other Consultation with
Other Accountantsincluded in the financial statements and the completeness and accuracy of various information requested by us.We requested, and received, written representations from
management relating to the accuracy of information Management Representation Required Communications April 30, 2024Audit ResultsPresentation of
9 financial reporting process.In accordance with AICPA professional standards, M&J is independent with regard to the Village and the Auditor Independencereproduced material for our
approval before it is distributed.printers’ proof for our review and approval before printing. You must also provide us with a copy of the final otherwise reproduce the financial statements
and make reference to our firm, we must be provided with report thereon does not extend beyond the information identified in our report. If you intend to publish or Our responsibility
for other information in documents containing the Village’s basic financial statements and our Information in Documents Containing Audited Financial Statements Required Communications
April 30, 2024Audit ResultsPresentation of
10 2023-General Information about the Village end Numbers 202Year FUND BALANCEGENERAL FUND M8.03$RESIDENTSPENDING PER $2,782 SALARIES AND BENEFITSFUND BUDGET SPENT ON PERCENTAGE OF GENERAL
%56 AVERAGE EMPLOYEE SALARY K$90 1,382$95 EMPLOYEESNUMBER OF APPROXIMATE DEBT PER RESIDENT INCREASE FROM PRIOR YEAR%0.21 April 30, 2024Audit ResultsPresentation of
11 2022-General Information about the Village end Numbers 202Year FUND BALANCEGENERAL FUND M8.01$RESIDENTSPENDING PER $2,832 SALARIES AND BENEFITSFUND BUDGET SPENT ON PERCENTAGE OF GENERAL
%53 AVERAGE EMPLOYEE SALARY K$81 1,524$99 EMPLOYEESNUMBER OF APPROXIMATE DEBT PER RESIDENT INCREASE FROM PRIOR YEAR%25.45 April 30, 2024Audit ResultsPresentation of
12 General Fund Information April 30, 2024Audit ResultsPresentation of
13 General Fund Information April 30, 2024Audit ResultsPresentation of
14 General Fund Information April 30, 2024Audit ResultsPresentation of
15 Enterprise Fund Information April 30, 2024Audit ResultsPresentation of
16 Enterprise Fund Information April 30, 2024Audit ResultsPresentation of
17 Enterprise Fund Information April 30, 2024Audit ResultsPresentation of
18 Listing of All Upcoming GASB Standards and PronouncementsNoneImprovements:Summary of Current Year Findings and Recommendations for All Auditor Required CommunicationsAdditional
report Issued by our Firm Annually Which Documents the Following:Other Information in Auditor’s Discussion & Analysis April 30, 2024Audit ResultsPresentation of
19 wsansbury@mjcpa.comWade Sansbury 941.747.4483Bradenton, Florida 342051401 Manatee Avenue West, Suite 1200Contact Information Thank you for your time!Questions & Comments April 30,
2024Audit ResultsPresentation of