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Hopkinsville audit: independent auditor gives unmodified opinion; pension liabilities drive $3 million net deficit
Summary
York, Neal and Associates presented the city's fiscal year ended June 30, 2024 audit to the Hopkinsville City Council on March 4, reporting an unmodified (clean) opinion, a $3 million government-wide net position deficit driven largely by pension liabilities, and no findings in the single audit of federal programs.
Kelly Webb, a certified public accountant and partner at York, Neal and Associates, told the Hopkinsville City Council on March 4 that the firm issued an unmodified opinion on the city's financial statements for the year ended June 30, 2024. "In our opinion, the financial statements referred to above present fairly in all material respects the financial position of the city as of 06/30/2024 and the respective changes in financial position for the year then ended in accordance with generally accepted accounting principles," Webb said.
The audit presentation summarized government-wide and fund financial statements, component-unit reporting, and notes. Webb said the city's government-wide statement of net position showed a roughly $3 million…
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