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Auditors issue unmodified opinion on Freeport’s FY2024 financials; several control recommendations offered
Summary
Brooks Watson & Company presented the city’s fiscal year 2024 audited financial statements, issued an unmodified (clean) opinion and reported several findings including disclosure controls, bank reconciliations, utility billing adjustments and a new GASB standard for compensated absences.
Independent auditors Brooks Watson & Company presented the City of Freeport’s audited comprehensive annual financial report for the fiscal year ended Sept. 30, 2024, and issued an unmodified (clean) opinion on the financial statements.
Mike Brooks, partner at Brooks Watson, told the council the firm’s audit produced a clean opinion: “We were able to issue an unmodified clean audit opinion,” he said. Brooks reviewed key financial highlights: property tax and sales tax revenues increased modestly in FY2024, the General…
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