Independent financial auditors Weaver and Tidwell have assessed Missouri City with a “clean” financial score in the city’s annual comprehensive financial report.
The report, presented at the March 20 City Council meeting, examined Missouri City’s Fiscal Year 2021-22 budget and found it to be “free from material misstatement” and that there was a reasonable basis for rendering an unmodified or “clean” opinion. According to the report, the audit used Generally Accepted Auditing Standards and those issued under the U.S. comptroller general.
The report goes on to say that Missouri City ended FY 2021-22 with a positive total net position $19 million higher than when the fiscal year started. For FY 2021-22, total revenues exceeded expenses by $13.7 million.
In the ongoing FY 2022-23, Missouri City is expected to maintain a budget of 59.2% of estimated recurring expenditures which is 20%-30% higher than policy parameters, the report said.
