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City auditors issue clean opinion; general fund reserve about $5.2 million
Summary
External auditors told the Mineral Wells City Council they issued an unmodified opinion on the city's financial statements, reported roughly $5.2 million in unassigned general-fund balance, and found no material noncompliance in federal grant testing; council voted 6-0 to accept the audit.
Auditors from Keller Brown & Hill presented the city's annual financial audit and told the Mineral Wells City Council they issued an unmodified opinion, finding no material misstatements in the financial statements and no material noncompliance related to federal grant testing.
The auditor said the General Fund had an unassigned fund balance of about $5,200,000, which the auditor described as roughly three and a half months of general…
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