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Gulfport auditors present clean opinion on annual financial report; council receives CAFR
Summary
Independent auditors told the Gulfport City Council the city's fiscal 2024 comprehensive annual financial report earned a clean, unmodified opinion, with net position and liquidity figures the auditors described as strong. Council voted to receive the audit and spread it across the minutes.
Lucas Hand, senior manager for the auditing firm that performed the review, presented the city of Gulfport's comprehensive annual financial report and said the auditors issued a clean, unmodified opinion.
Hand said the audit also produced a clean single-audit report (required when federal expenditures exceed federal thresholds) and a separate compliance report under the Yellow Book standards on internal controls and compliance. "We are once again issuing a clean and unmodified opinion," Hand told the council.
The auditors told the council the government's year-end figures showed $167,000,000 in cash and cash equivalents and a net position of about…
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