Independent auditors give Ivins an unmodified opinion on FY2025 financials and state compliance

John Hatterley, partner with Larson & Company, presented Ivins Citythe auditor's report for the fiscal year ended 2025 on Nov. 6, saying the firm issued unmodified (unqualified) opinions on both the cityfinancial statements and the state-required compliance testing.

"Our opinion on the financial statements is an unmodified or an unqualified opinion," Hatterley said, summarizing auditors' findings and procedures. He explained the audit process: auditors work from the trial balance, test samples of transactions, and review note disclosures and management's discussion and analysis for neutrality and completeness.

Hatterley said auditors also reviewed internal controls and found no material weaknesses that would lead to misstatements in the financial statements. He called attention to the state compliance opinion that covers budgetary compliance, fund balances, restricted tax use, public meetings, Utah Retirement Systems reporting and a fraud-risk assessment. "In looking at all of those areas, we did not find any areas of non compliance," he said.

Council members asked what level of confidence residents should draw from the audit. Hatterley said an audit provides the highest level of external assurance available: "If you go to an external party to say, come and look at our financial statements...this is the highest level of assurance."

Hatterley also encouraged continuing attention to long-term trends and going-concern indicators and described required supplementary information (management's discussion and analysis) that accompanies financial statements but is not part of the auditor's opinion.

No formal action was required; council members thanked Hatterley and the city's finance staff for their work.