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External auditor presents unmodified opinion on Hastings fiscal 2024 audit; highlights reserves, capital spending and utility trends
Summary
An external auditor told the Hastings City Council the fiscal year 2024 audit received an unmodified opinion, detailed reserves and capital investments, and identified the electric utility's recent operating loss as an item to watch.
An external auditor presented the City of Hastings financial audit for the year ending Sept. 30, 2024, to the City Council and reported an unmodified (clean) opinion. The auditor summarized benchmarking ratios, five-year trends and comparisons with peer Nebraska cities.
The auditor (identified in the transcript as Marcy) said the audit opinion “is an unmodified opinion,” and walked the council through a two-page benchmarking spreadsheet comparing Hastings to similar-sized Nebraska cities. She said Hastings’ unrestricted net assets declined this year because the city invested unrestricted dollars into capital projects, and that governmental unrestricted reserves remain stronger than…
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