Laserfiche WebLink
CITY OF ROSEVILLE, MINNESOTA <br />SCHEDULE OF FINDINGS AND RESPONSES <br />For The Year Ended December 31, 2023 <br />2023-001 Financial Statement Corrections <br />Criteria: Material audit adjustments are considered to be a deficiency in internal <br />control as defined by auditing standards. <br />Condition: During the audit, the following adjustment to the financial statements was <br />made: <br /> Intergovernmental revenue and related expenditures were adjusted by <br />approximately $570,000 to reduce revenue and expenditures related to 2022, <br />that had been recorded in 2023. <br />Cause: The CityÓs year-end closing processes did not identify the misstatements <br />prior to the audit. We understand that communications between the City <br />departments may have been a contributing factor. <br /> <br />Effect: There is an increased risk that financial statement misstatements may occur <br />and not be detected and corrected in a timely manner. <br /> <br />Recommendation: We recommend the City continue efforts to assure that all <br />adjustments are identified during the year-end closing process. <br />City Response: The City recognizes a need for increased internal controls and will <br />evaluate its current processes and implement additional procedures to help minimize <br />such misstatements in the future. <br />3 <br />Qbhf!279!pg!494 <br /> <br />