City council accepts 2024–25 audit, approves RFP for future auditing services

The Sydney City Council voted May 26 to accept the city’s 2024–25 audit and to issue a request for proposals (RFP) for future auditing services.

A presenter identified as Trevor told the council the audit was finalized and distributed electronically the week after the previous meeting. He summarized key points comparing Sydney’s government‑wide net position and long‑term obligations with six peer cities, noting Sydney’s long‑term obligations measured about 19.2% of net position while peers ranged widely. Trevor said the audit found no immediate red flags but recommended tighter year‑end processes and a checklist to reduce post‑audit adjustments.

Ken Carwin, the city finance director, told council the city will issue an RFP to replace the prior auditor after firm staffing changes and suggested a 30‑day solicitation period to collect proposals and assess future budget impacts. The council approved the RFP and the audit acceptance by roll call.

The presenters cautioned that some budget document presentations (for example, transfers tied to debt service and inter‑fund transfers) could be clearer in the city’s published budget to avoid misinterpretation of budget authority versus actual spending. Trevor recommended that council and staff review audit adjustments annually and incorporate routine year‑end procedures to minimize recurring adjustments.

The council recorded the motion and vote to accept the audit and to authorize issuance of an RFP; no dissent was recorded. The city will evaluate responses to the RFP and report back to council as proposals are received.