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Coeur d'Alene officials report clean audit for fiscal 2024; staff flag fund balance details and investment disclosures
Summary
City finance staff told the Coeur d'Alene City Council that an independent audit gave the city an unmodified (clean) opinion for fiscal 2024, while highlighting one‑time revenues, a settlement and questions about custodial credit and lease disclosures.
The Coeur d'Alene City Council on June 17 reviewed the city's fiscal year 2024 financial statements and heard that an independent auditor issued an unmodified opinion, commonly described as a clean audit.
City finance staff member Katie Ebner told the council Alpine Summit, the independent CPA firm that completed the audit, issued an unmodified opinion on the city's financial statements and on internal controls. "Our auditors have given an unmodified opinion, which is considered a clean opinion on our fiscal year '24 financials," Ebner said.
The audit shows the general fund ended FY24 with a fund balance of about $19,000,000 and an unassigned fund balance of roughly $12,000,000, equal to about 22% of general revenues. Ebner said that proportion meets the Government Finance Officers Association recommendation and provides about…
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