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Bozeman City Commission approves FY2024 comprehensive financial report; auditors issue clean opinion
Summary
The commission unanimously approved the City of BozemanFY2024 Annual Comprehensive Financial Report on Jan. 14. Auditors from I. Bailey issued an unmodified (clean) opinion and reported no reportable internal-control deficiencies or federal-compliance findings; the single-audit review of ARPA funds was also clean.
The Bozeman City Commission on Jan. 14 voted unanimously to accept the City of Bozemanfiscal year 2024 Annual Comprehensive Financial Report (ACFR) and the auditorsletter to governance.
Auditors from I. Bailey delivered an unmodified opinion, saying the city's financial statements "are presented fairly in all material respects in accordance with generally accepted accounting principles in the United States," and reported no material weaknesses or significant deficiencies in internal control and no instances of noncompliance for the federal program tested (ARPA), the audit partner said.
The ACFR, issued Dec. 20, 2024, shows the city's net position grew to $693,400,000 in 2024 from $636,200,000 the prior year, with approximately $568,700,000 invested in capital assets and $9,400,000 reported as unrestricted. Auditors and staff told commissioners that much of the apparent increase reflects capital investment and capital carryforwards rather…
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