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Oro Valley audit: clean opinions issued; single-audit flags federal asset tracking
Summary
Auditors Baker Tilly issued an unqualified opinion on Oro Valley's fiscal 2024 annual comprehensive financial report and a clean Yellow Book report; the federal single audit was clean except for one significant deficiency related to inventory and identification of federally purchased capital assets.
The Town of Oro Valley received an unqualified ("clean") audit opinion for its annual comprehensive financial report for the year ended June 30, 2024, though auditors identified a single significant deficiency in federal grant asset tracking.
Baker Tilly lead audit partner Brian Hemmerle told the Budget and Finance Commission on Jan. 21 that the audit opinion was issued Dec. 12, 2024, and that the town also received a clean government auditing standards (Yellow Book) report. The federal single-audit report was likewise clean for the major programs tested, with one significant deficiency related to maintenance and identification of federally purchased capital assets.
Why it matters: an unqualified audit indicates the town's financial statements are materially correct in the auditors' view; the single-audit deficiency matters because it affects compliance with federal grant rules and requires corrective action to avoid future findings.
Hemmerle said the single-audit work covered the COVID-19 State and Local Fiscal Recovery Fund (SLFRF) and an outdoor…
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