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Corinth council accepts clean annual audit; prior-year developer contribution restated
Summary
City auditors presented a clean (unmodified) opinion on the fiscal 2024 financial statements and a clean single-audit for federal grant compliance; council unanimously accepted the comprehensive annual financial report. Auditors said a $4.2 million developer contribution was restated to 2023 and the city is adopting corrective steps.
The Corinth City Council on March 20 unanimously accepted the city’s annual comprehensive financial report and single-audit for the fiscal year ended Sept. 30, 2024.
Kevin Randolph, senior partner at audit firm Eide Bailey, told the council the firm issued an unmodified ("clean") opinion on the financial statements and a clean single-audit for federal grant compliance. "We did issue an unmodified opinion this year," Randolph said, adding the firm found the statements were…
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