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City controller, independent auditor report clean 2024 financial statements
Summary
City Controller Bill Christiansen and independent auditor Baker Tilly presented an unmodified opinion on Milwaukee—s 2024 Annual Comprehensive Financial Report; committee placed the audit on file.
The Finance and Personnel Committee heard the City of Milwaukee—s 2024 Annual Comprehensive Financial Report on Oct. 8, and the city—s independent auditor issued an unmodified opinion.
Comptroller Bill Christiansen introduced the report and Paul France, principal at Baker Tilly, told the committee the audit produced a "clean bill of health," meaning the statements were free of material misstatements, accounting principles were applied consistently and required disclosures were included. "We—ve issued an unmodified opinion," France said.
The comptroller and Baker Tilly also noted the report is the result of a citywide effort and that the annual report continues to receive recognition from the Government Finance Officers Association (GFOA). Alderman Russell Burgess called the report a "report card on the comptroller's office" and congratulated staff.
Committee members asked for a shorter, public-facing popular annual financial report and for more detail on two items Christiansen planned to highlight for budget hearings: the tax stabilization fund and transportation fund. Christiansen said he—d provide a timeline for the popular report and that the transportation fund would be discussed in the transportation budget hearing.
Alderman Robert Speicher moved to place the audit on file; committee leadership called for no objections and the item was ordered placed on file.
