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Auditor gives unqualified opinion; council accepts annual financial report as part of consent agenda
Summary
Armstrong Vaughn auditors gave an unqualified opinion on Hollywood Park's financial statements and recommended maintaining a six‑month operating reserve; council accepted the fiscal year 2023–24 annual report as part of the consent agenda.
Jacob Toomey of Armstrong Vaughn and Associates told the Hollywood Park City Council the firm issued an unqualified opinion on the city's financial statements for the year, meaning the auditors found no material exceptions.
"Just to be clear, the unqualified opinion is the 1 you want. It means there were no qualifications or exceptions to us saying that your financial statements were materially…
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