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Clayton audit: unmodified opinion, three management recommendations
Summary
The Clayton Budget & Audit Committee on April 7 received the city——s FY 2023———4 audited comprehensive financial report; auditors issued an unmodified (clean) opinion but included three recommendations on capital inventory, purchase orders and fund-balance policy. The report shows a FY24 government-wide net loss of $1.15 million while unrestricted net position remained positive.
The Clayton Budget & Audit Committee on April 7 received the City of Clayton——s audited annual comprehensive financial report for the fiscal year ended June 30, 2024. Sheldon Chavon of Chavon and Associates said the auditors issued an unmodified (clean) opinion on the financial statements.
“In our opinion, the financial statements referred to above in all material respects are free and material misstatement,” Chavon said, adding congratulations to city staff for the results. Chavon emphasized the independent auditors——' report as the central element of the ACFR and opened the presentation to committee questions.
Chavon identified three management recommendations that did not affect the audit opinion: perform a capital-asset inventory, fully implement the city——s purchase-order controls, and revisit or reissue the city——s fund-balance (reserve) policy. He said those items will appear in the management letter…
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