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Auditor reports unmodified opinion on Coventry’s 2023 financial statements, flags municipal deficit provision
Summary
CLA auditor told the Coventry School Committee the 2023 audit received an unmodified ("clean") opinion but noted a violation of Rhode Island Law 45-12-22.1 on municipal deficits and highlighted pension and OPEB liabilities.
Steven Gross of CLA presented the fiscal year 2023 audit to the Coventry School Committee and answered members' questions about findings, deficits and next steps.
Gross told the committee CLA issued an unmodified opinion on the basic financial statements for the town and school — commonly described as a "clean" opinion. He also summarized a compliance finding: the Coventry schools were noted in relation to Rhode Island Law section 45-12-22.1 concerning municipal deficits. "...you're in violation with, Rhode Island Law section 45-12-22.1 relating to…
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