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FY2022 audit letter lists a $62,476 adjusting entry to EnterPrize Challenge notes receivable
The board approved the FY2022 audit. The auditor's communication letter attached to the minutes lists adjusting journal entries in the Project Fund, including "Enterprise Challenge N/R (62,476)" as a decrease in net position. The letter says management corrected all such misstatements; it does not explain the entry.[1]
Amarillo Economic Development Corporation (AEDC)CMMS CPAs & Advisors PLLC
What the sources say
- ✓ Verified
The auditor's letter dated March 21, 2023 (marked 'Tentative draft' in the minutes attachment) lists Project Fund adjusting entries: Sales Tax Revenue $(188,319), Interest Income 17,778, Enterprise Challenge N/R (62,476) and Lease revenue 19,329, a net decrease in net position of (213,688) as printed. 'N/R' is not spelled out in the letter.[1]
- Adjustment
- -$62,476
