Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Stafford EDC auditor issues clean opinion; board accepts audited financial statements
Summary
External auditor Portillo, Brown & Hill gave the Stafford Economic Development Corporation a clean (unmodified) opinion and reviewed fund balances, sales tax and budget variances; the board voted to accept the audit.
The Stafford Economic Development Corporation accepted audited financial statements for the fiscal year after Portillo, Brown & Hill issued an unmodified (clean) opinion.
Portillo, Brown & Hill audit partner Chris Pruitt told the board the audit was performed in accordance with GAAP and GAAS and that “the financial statements, in our opinion, are materially stated correctly. It’s called an unmodified opinion, also referred to as a clean opinion.” He said the audit found no items that could cause a material misstatement and no disagreements with management.
The auditor highlighted the corporation’s fund balances and major revenue sources. Pruitt said the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
