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External audit finds clean opinion; one recommendation to formalize receivable and leave calculations
Summary
City auditors delivered an unmodified (clean) opinion on the 2024 financial statements, noted implementation of a new GASB standard for compensated absences, and recommended formalizing procedures for special-assessments receivable and compensated-absences calculations.
Brian Stavengers, partner at the audit firm Bailey, presented the highlights of the city’s 2024 audit and delivered an unmodified opinion on the financial statements. "Unmodified opinions or clean opinions," he said, "which is good. It's what you want when you receive a financial statement audit."
He told the commission auditors reviewed federal programs and compliance and identified one financial-statement finding related to a lack of a formal review over the special-assessments receivable calculation and the new…
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