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Overland Park posts clean external audit; 2024 net position rises $39.5 million
Summary
City staff and external auditors presented the 2024 Annual Comprehensive Financial Report and a clean audit opinion. Key figures: general fund unassigned balance ~$113.4 million, combined governmental funds +$31.2 million, total net position $1.24 billion.
Overland Park officials presented the city’s 2024 Annual Comprehensive Financial Report and related audit Tuesday, and RubinBrown LLP issued an unmodified (clean) opinion on the financial statements.
The city’s combined governmental fund balance increased about $31.2 million to $288.6 million in 2024, while the unassigned general fund balance rose to about $113.4 million, up roughly $14.0 million from 2023. City staff said sales and property taxes remain the largest revenue sources, with sales tax at roughly 41% of governmental revenues and property tax about 22%.
“The objective of a financial statement audit is to provide reasonable assurance that the financial statements as a whole are free from material misstatement,” Jessica Schmitz, audit manager at RubinBrown, said during the meeting. “For this audit we issued an unmodified or clean opinion, that's the highest level of opinion that we issue.”
Why it matters: the audited statements translate…
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