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Topeka Development Corporation board approves 2024 audit after auditor reports unmodified opinion
Summary
Auditors reported an unmodified (clean) opinion on the Topeka Development Corporation’s 2024 financial statements and noted a corrected depreciation calculation; the board voted to approve the audit.
The Topeka Development Corporation board approved its 2024 audit at the April 15, 2025 meeting after auditors reported an unmodified opinion and described a correction to a depreciation calculation.
The auditor, identified in the transcript as Josh, told the board, “Unmodified opinion is the highest opinion we can have. That basically means that all the financial statements are presented fairly, in accordance to GAAP.” He said auditors found no disagreements with Adams Brown, which had performed the prior audit.
The auditor explained one material difference from last year: the hotel was on the TDC books for 12 months in 2024 versus two months in 2023, which accounts for large year-to-year variances in amounts. He also noted the audit identified an incorrect straight-line depreciation calculation; the auditor said the error was corrected during the audit.
Director Dobler moved to approve the audit; Director Banks seconded the motion. The board took a voice vote; all those present voted in favor and the motion carried.
