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Independent auditors issue clean opinion on Manassas Park FY24 financials but report internal-control weaknesses
Summary
An unmodified opinion was issued on the FY24 financial statements; auditors reported material weaknesses in internal control over financial reporting (Yellow Book), while single-audit compliance testing found no material weaknesses. The general fund unassigned balance and net position improved year over year, with staff noting transfers planned to address a negative capital projects balance.
The independent auditors presented the City of Manassas Park’s FY24 Annual Comprehensive Financial Report on Oct. 7 and issued an unmodified opinion on the financial statements, a standard "clean" audit opinion. The presentation also included a Yellow Book (internal control) report that identified material weaknesses in internal control over financial reporting; auditors explained the weaknesses in the context of the city’s reporting and recommended corrections.…
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