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Bridgeport council accepts FY2024 audited financial report after clean opinion from auditors
Summary
The City Council voted unanimously to accept the audited financial statements for the fiscal year ended Sept. 30, 2024. Auditors reported a clean opinion and summarized key fund balances, revenue changes and compliance results, including a single-audit review of federal pandemic-relief funds.
The Bridgeport City Council voted unanimously to accept the city's audited financial report for the fiscal year ended Sept. 30, 2024, following a presentation by the city's independent auditors.
Daniel Hungerford, an auditor with George, Morgan & Snead, told the council the firm issued a clean opinion on the city's financial statements, saying the statements are "fairly stated in accordance with generally accepted accounting principles." He reviewed major fund results and compliance work during his presentation.
Hungerford said the general fund had about $2,600,000 in unassigned fund balance, roughly 32% of general fund expenditures, and reported general fund revenues of about $7,054,000. He said property values rose…
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