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Cherryville auditors give city an unqualified opinion; council hears increase in reserves
Summary
City auditors delivered an unqualified (clean) opinion and reported an increase in the city’s unassigned general fund balance to roughly 38% of annual expenditures, an increase of about $687,000 from the prior year; council thanked auditors and had follow-up questions about grant compliance and bond-related funds.
The Cherryville City Council heard from the city’s auditors, who delivered an unqualified audit opinion and reviewed the city’s fiscal position for the year. Julie, the presenting auditor, said the audit found no instances of noncompliance requiring modification and that federal and state grant…
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