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Independent auditors give Georgetown an unmodified ACFR opinion, report one significant internal‑control deficiency
Summary
External auditors issued a clean (unmodified) opinion on the City of Georgetown’s annual comprehensive financial report for FY 2024 but identified one significant deficiency related to recording developer contributions; auditors also reported two corrected misstatements in the financial statements.
Auditors from Weaver issued an unmodified (clean) opinion on the City of Georgetown’s Annual Comprehensive Financial Report (ACFR) for the year ended Sept. 30, 2024, and presented the results to council at a workshop. The audit included a single‑audit report for federal funds compliance and concluded with no material misstatements left uncorrected.
Why it matters: An unmodified opinion means the auditors concluded the city’s financial statements are materially free of misstatement under U.S. generally accepted accounting principles. The ACFR gives the public a detailed, government‑wide view of the city’s finances and includes management’s discussion and analysis, fund schedules, and 10‑year statistical sections.
Key findings and adjustments: Auditors reported two corrected audit…
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