ACFR FY 2023 Final - Flipbook - Page 205
Response to Management Letter
Page 2
To improve the City9s period-end closing routine and financial reporting process, we believe that
specific attention should be given to the following items:
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Creation of closing routines and timetables.
Review assignments and responsibilities for accounting and closing.
Improve timeliness of account reconciliations for capital assets.
Accuracy and timeliness of draft period financial statements.
Implementation of new accounting standards.
If a documented period-end closing routine is utilized, the period-end closing process will become more
efficient and effective, and will improve the quality and timeliness of financial reporting.
City Response:
The City9s Finance Department has undergone significant staffing changes. Most recently the city hired a
new Finance Director. Finance personnel will have their responsibilities reviewed and reallocated as
necessary. This will allow for a more consistent, streamlined period-end and year-end process.
Respectfully submitted,
________________________
Tom Carrino, City Manager
________________________
Mike Sheppard, Finance Director
CC: Purvis Gray & Company, City Auditors
Auditor General, State of Florida
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