Audit firm issues unmodified opinion on San Diego Community Power finances; audit to be received and filed

Kellen Gilbert, lead audit partner with the audit team presenting to the Finance and Risk Management Committee, said the firm completed its audit and “issued an unmodified clean audit opinion, which states that in our opinion, the financial statements are free of material misstatement.” The audit team also reported that it identified no significant deficiencies or material weaknesses in internal control over financial reporting and proposed no audit adjustments.

The audit was conducted under the authority of the agency’s Joint Powers Agreement and in accordance with Government Code section 6505, Dr. Eric Washington, chief financial officer and treasurer at San Diego Community Power, told the committee. The audit team noted adoption of new Governmental Accounting Standards Board statements (GASB 102–104) in Note 13, saying those adoptions did not have a material effect on the statements. The auditors also said all requested information was provided and there were no disagreements with management over the scope of the engagement.

Chair Dita Shimani said the FY 2024–25 financial audit is a receiving-file item and confirmed the committee’s recommendation to receive and file the report; no formal vote was required on the receiving-file action at the meeting. The committee thanked the audit team and staff for completing the audit efficiently and on time.

The committee’s record of the audit presentation and the written communications (the audit letter dated October 30 was referenced by the auditors) will be posted with meeting materials on the agency website.