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Independent auditors give Republic a clean opinion for fiscal year 2024; restricted bond proceeds decline noted
Summary
KPM presented the city’s FY2024 independent audit and issued an unmodified (clean) opinion. Auditors highlighted a decrease in restricted cash due to prior-year bond proceeds for Parks & Recreation projects, strong grant receipts for wastewater work and no findings in the single-audit for federal awards.
The City Council accepted the fiscal year 2024 independent audit presentation from audit manager Sandra Barrera of KPM, which included an unmodified (clean) opinion on the city’s financial statements.
Barrera summarized key figures: total governmental-fund assets of about $25.1 million (a decrease of roughly $3 million from the prior year), an increase in unrestricted cash of about $2.9 million, and a $6.4 million…
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