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Chaska accepts 2024 comprehensive financial report; auditors issue clean opinion
Summary
City Council accepted the City of Chaska and Chaska Fire Relief Association 2024 audited financial reports after a presentation by CliftonLarsonAllen highlighting a clean (unmodified) opinion, several prior-period restatements and a required federal single-audit.
Chaska accepts 2024 comprehensive financial report; auditors issue clean opinion Noel Grasic, administrative services director for the City of Chaska, presented the city's 2024 Comprehensive Annual Financial Report and related audit materials Monday and asked the council to accept the reports after a presentation by auditors from CliftonLarsonAllen (CLA). The reports matter because they summarize the city's financial position for 2024, show compliance with relevant auditing standards and support continuing disclosure for the city’s bond issues. City staff and CLA told the council the audit produced an unmodified ("clean") opinion, meaning CLA concluded the financial statements are fairly stated in all material respects. CLA partner Christopher Kanopic and audit manager Ezra Ketsi reviewed a few restatements the firm required, including reclassifying certain utility-related infrastructure into the utility (enterprise) funds, accounting adjustments in the turbine fund and the timing treatment of a receivable in a public improvement project fund. CLA also reported that, because the city’s…
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