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Altoona auditors issue clean opinion on 2024 financials; two repeat findings remain
Summary
At a Nov. 10 Altoona City Council meeting, Chris Shirock of Young Oaks Brown and Company said auditors issued an "unmodified or clean opinion" on the city's 2024 financial statements, reported fund balances and federal expenditure reviews, and noted two repeat financial statement findings remain.
Chris Shirock of Young Oaks Brown and Company told Altoona City Council on Nov. 10 that the auditors issued an "unmodified or clean opinion" on the city's 2024 financial statements. "That's the best opinion you can receive," he said.
Shirock summarized the audit's principal figures. He said the city's statement of net position for 2024 was $479,000,000. He described components of that total, saying "Of this amount, 502,000 was invested in capital assets and restricted, and then there was an unrestricted portion that was negative 23,000,000." The general fund balance as of…
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