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Hoover auditors give FY2024 an unmodified opinion; net position falls $5.1 million
Summary
External auditors issued an unmodified opinion on Hoover's FY2024 Annual Comprehensive Financial Report; city staff reviewed key balances, debt and fund changes and answered council questions about callable debt and sewer obligations.
At a July meeting of the Hoover City Council, external auditors and city finance staff presented the City of Hoover's fiscal year 2024 Annual Comprehensive Financial Report and said the audit received an unmodified opinion. Steven Von Hagel of auditing firm BMSS told the council the report showed an "unmodified opinion," the highest level of assurance available for the city's financial statements. Jennifer Cornett, the city's finance official who presented the report, said the city's total net position for the year was $325,600,000, a decrease of $5,100,000, or 1.6 percent, compared with the prior year.
The audit and presentation matter because they summarize the city's financial health, long-term liabilities and available resources. Cornett…
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