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Auditors give Portsmouth an unmodified opinion on FY24 financial statements; no material control weaknesses found
Summary
CliftonLarsonAllen reported an unmodified (clean) opinion on Portsmouth’s FY24 financial statements, found no material internal control weaknesses, and noted management-letter IT recommendations for outdated operating systems.
City auditors Matthew Hunt and Phil Long of CliftonLarsonAllen told the Portsmouth City Council Tuesday that the FY24 financial statement audit resulted in an unmodified opinion — commonly called a “clean” audit — and that auditors found no material misstatements, no reportable internal control material weaknesses and no noncompliance with laws and regulations affecting the financials.
Hunt summarized key fund results for FY24, noting the general fund experienced a net decrease in fund balance while the unassigned fund balance and the ratio of unassigned balance to budget…
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