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Independent auditors give Frostburg an unmodified opinion; single-audit finds clerical reimbursement deficiency
Summary
Hubert Michaels and Company presented the city’s annual audit, issued an unmodified opinion, and reported one significant deficiency on federal reimbursement paperwork; the firm also said it is exiting the audit business.
Keith Bridal, partner at Hubert Michaels and Company, presented Frostburg’s annual financial audit and told the council the firm issued an unmodified (formerly "unqualified") opinion on the city’s financial statements.
Bridal said the government‑wide statements show total assets of roughly $65 million including business‑type activities, and that governmental fund assets were about $31 million. He said the governmental activities’ change in net position was…
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