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Auditors issue unmodified opinion on Long Beach 2023–24 financial statements; net position still in deficit
Summary
Bonadio Group reported an unmodified audit opinion for year ended June 30, 2024. Citywide net position improved by $9.3 million but remains a deficit of about $244.7 million. General fund unassigned balance is roughly $14 million.
The Bonadio Group, the City of Long Beach’s external auditors, told the City Council their audit of the fiscal year ended June 30, 2024 will carry an unmodified opinion, the highest level of assurance for financial statements.
Alan Walther, a partner with Bonadio, said the audit found no disagreements with management, no significant difficulties during the audit and no material weaknesses in internal control under government auditing standards. The…
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