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CITY OF PARIS, TEXAS <br />Schedule of Findings and Questioned Costs (Continued) <br />Year Ended September 30, 2023 <br />Financial Statement Findings <br />Significant Deficiencies <br />Finding 2023-01— Financial Accounting and Reporting <br />Criteria: The City's management should be responsible for preparing period -end financials including <br />recording recurring and non-recurring adjustments to the financial statements. <br />Condition: The City does not control the period -end financial reporting process including controls over <br />procedures used to analyze transactions compromising general ledger activity and controls over recording <br />recurring and non-recurring adjustment to the financial statements. <br />Cause: Proper closing processes are not being performed timely and accurately <br />Effect: As a result of this condition, the City lacks internal controls over the period -end financial reporting <br />resulting in multiple post -close and adjusting entries. <br />Recommendation: We recommend that management of the City of Paris, Texas maintain close oversight of <br />the accounting and period -end financial reporting process, and have a routine closing process and develop a <br />comprehensive list of reconciliations and financial reporting duties to be performed on a routine basis. <br />Federal Award Findings and Questioned Costs <br />The audit disclosed no findings required to be reported. <br />136 <br />