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Ashland accepts FY2024 audit after auditor gives 'clean' opinion
Summary
The Ashland Board of Commissioners received the city's fiscal year 2024 audit from auditor Anthony Workman, heard highlights about pension liabilities, interfund balances and federal program findings, and moved to accept the audit.
The City of Ashland Board of Commissioners on April 24 received and accepted the fiscal year 2024 audit from Kelly Galloway Smith Goolsby, the city's independent auditors. Auditor Anthony Workman told the commission the audit covered the financial statements for the year ended June 30, 2024, and stated, "in our opinion, the financial statements of the city present fairly in all material respects." A motion to accept the audit was moved and seconded and carried.
The audit presentation summarized several items commissioners said they should note. Workman reported a consolidated net position of about $56,000,000 and described a year-over-year increase; he also said required reporting now includes net pension and OPEB liabilities and pointed commissioners to the management's discussion and analysis for a readable summary. The auditor called out an interfund balance largely owing to the general fund being due amounts from enterprise and other funds and noted the capital projects and Winchester Avenue expenditures during the year.
Workman described pension and post‑employment liabilities included in the statements and said the city will see reduced employer rates in the next two fiscal years, which he said could produce cost savings. He also reviewed the single-audit results: the city’s major federal programs included the Housing Choice Voucher program and highway planning/construction related to Winchester Avenue; auditors found compliance findings in the voucher program limited to tenant documentation and waiting-list preferences and said management already has recommendations to address those findings. Workman emphasized the audit opinion was unmodified — commonly called a "clean" opinion.
Commissioners had no outstanding objections on the report. After the presentation, commissioners moved to accept the audit; the motion passed during the meeting.
The audit package was distributed to commissioners for review; Workman said he and his firm would be available after the meeting to answer follow-up questions.
Less critical details: the auditor noted capital additions tied to Winchester Avenue and water-line projects, about $7.7 million expended in capital projects, and federal awards including the Housing Choice Voucher program and highway planning/construction were among the largest programs reported.
