Albany committee receives unmodified FY2023–24 audit, forwards audit and midyear finances to council

The Albany City Audit and Fiscal Sustainability Committee on Tuesday reviewed the city's FY2023–24 Annual Comprehensive Financial Report and heard the outside auditor issue an unmodified opinion and report no material weaknesses.

Finance Director Raina Schwartz told the committee that Shavona and Associates prepared the ACFAR for fiscal year 2023'24 and that the firm issued an "unmodified ... opinion letter," meaning the auditors found the financial statements free of material misstatement. Auditor Sheldon Chavon echoed that assessment, saying, "No material weakness and and no significant deficiencies."

The audit presentation said the government-wide net position and the general fund were essentially stable at year end. Key figures discussed included a general fund balance of about $11,700,000 and an unassigned fund balance of about $10.4 million after…