External auditors give Saint Helena a clean opinion on fiscal 2023–24 financials

Brown Armstrong accountancy group presented the results of the audit of the City of Saint Helena’s financial statements for the fiscal year ended June 30, 2024, and issued an unmodified (clean) opinion, the auditor told the council on Feb. 25.

Lindsey Zimmerman, the engagement partner, told the council the firm found no material weaknesses or significant deficiencies in internal control over financial reporting and no compliance issues noted in their testing. She said the audit included review of significant accounting estimates such as capital assets, pension and OPEB liabilities, leases and special-purpose trust arrangements and that the auditors had no disagreements with management and no corrected or uncorrected misstatements.

Staff and the auditors acknowledged the finance team’s work during a year with staffing challenges. Administrative Services Director Mandy Kellogg thanked the auditors and staff for their work; City Manager Camelo and council members also praised the finance department. The auditors said they would issue the formal reports this week.

Why it matters: A clean audit opinion affirms that the city’s financial statements fairly present its financial position and that the external audit did not identify internal control deficiencies that would rise to a material weakness. The finding supports public confidence and is relevant to bond markets and lenders.

Ending: The auditor will finalize and issue the formal audit reports; staff will continue to monitor finance staffing and related operational needs.