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Lincoln audit finds clean opinion, flags legacy special-assessment accounting issues
Summary
Independent auditors gave the City of Lincoln an unmodified (clean) opinion on its fiscal year 2023–24 financial statements while reporting a continuing material weakness tied to legacy special-assessment debt and several transition-related deficiencies tied to a new ERP system.
Lincoln auditors delivered largely positive news about the city’s finances but urged continued work on older special-assessment records and processes tied to a recent financial system transition.
Erica Bridal Pasteur, the audit manager engaged by the city’s independent auditors, told the City Council on Jan. 28 that the fiscal year ended June 30, 2024, received an unmodified — or “clean” — opinion under generally accepted accounting principles. “For the year ended 06/30/2024, the city did receive an unmodified or clean audit opinion,” Bridal Pasteur said during the presentation.
The audit team praised the city’s financial reporting but reported a continuing material weakness connected to special-assessment debt…
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