k. Audits and Financial Statements:

City Commission · 2026-05-19 · agenda_item

This item concerns financial reporting and audit requirements for an owner, likely related to a past or ongoing agreement with the City of Kissimmee. The owner must provide annual financial statements prepared by a licensed public accountant within 90 days of their operating year's end. If the owner spends over $500,000 in federal awards, they must also comply with specific audit provisions and submit an annual audit to the City within 120 days of their fiscal year's end. The City's Internal Audit and Evaluation Department also reserves the right to conduct audits at any time. This item is currently under review as part of a larger agreement. The work involves financial statement preparation and annual audits, which may require accounting and auditing services. Businesses specializing in these services should consider reaching out early to understand the specific requirements and potential needs as the agreement progresses.

federal awards threshold

500000 $

annual financial statement deadline

90 days

annual audit deadline

120 days

reimbursement deadline

30 days