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FY2024 audit returns unmodified opinion; trustees defer formal acceptance to review report
Summary
Auditor Eric Russell reported an unmodified opinion on the authority's FY2024 financial statements but noted adjusting entries related to federal pass‑through funds; trustees voted to defer formal acceptance to allow time to review the audit report.
Eric Russell of the auditing firm told trustees the FY2024 financial statements received an unmodified opinion, indicating no material misstatement requiring modification. He said auditors identified a few adjusting entries related primarily to federal COVID‑era funds that were recorded as pass‑through receipts and disbursements.
Russell summarized financial highlights in the report: operating…
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