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Independent audit returns clean opinion; council adopts midyear budget adjustments and revenue revisions
Summary
City auditors gave St. Helena an unmodified (clean) opinion on its June 30, 2024 financial statements and reported no material weaknesses. At the same meeting the council approved midyear budget adjustments for fiscal 2024–25 that included a series of revenue and expense changes, use of reserves and department adjustments.
Brown Armstrong, the City’s external auditors, reported an unmodified (clean) opinion on the City of St. Helena’s financial statements for the year ended June 30, 2024, and said it found no material weaknesses or significant deficiencies in internal control.
Lindsey Zimmerman, audit partner, told the council the audit ‘‘resulted in an unmodified or clean opinion on the financials as a whole’’ and that auditors found ‘‘no compliance issues noted’’ in their testing. Zimmerman also reported there were no corrected or uncorrected misstatements and no audit disagreements with management.
Why it matters: A clean audit provides independent assurance the city’s financial statements are presented in accordance with accounting standards, which matters to bondholders, grantors and the public.
Council finance presentation and key results: Administrative Services Director Mandy Kellogg summarized the fiscal highlights. The city reported total net position of about $96.6 million for fiscal year 2023–24, an increase of roughly $7 million from the prior year. Revenues rose 39%…
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