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First 5 Sacramento accepts FY24-25 audit with unqualified opinion; annual report adopted
Summary
Auditors issued an unqualified opinion on First 5 Sacramento—s FY24-25 financial statements, noting a minor restatement (~$190,000) tied to a GASB compensated-absence standard; the commission adopted the audit and the annual report.
The First 5 Sacramento Commission unanimously adopted the fiscal year 2024-25 financial audit and the commission—s annual report at its Dec. 1 meeting after a staff presentation and public hearing with no public speakers.
Russell Robertson, Assurance Director for auditing firm MGO (Masias, Jeanie & O'Connell LLP), told commissioners MGO issued an unqualified opinion, the highest level of assurance, meaning the financial statements are fairly presented in accordance with accounting standards. Robertson said…
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