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Provo auditors give clean opinion as city reports $24.5 million unassigned fund balance
Summary
Provo City's finance director presented the 2024 Annual Comprehensive Financial Report showing an unassigned general-fund balance of about $24.5 million and a modest $2.2 million net increase; independent auditors from HBMB issued a clean opinion with no state-compliance findings or material internal-control weaknesses.
Provo City officials presented the city's Annual Comprehensive Financial Report and heard an independent auditor's clean opinion Tuesday.
Finance Director John Borget told the Municipal Council the report shows an unassigned general-fund balance of roughly $24.5 million and a net increase in fund balance of about $2.2 million for fiscal 2024. Borget said assigned carryovers were reduced by approximately $2 million and that the unassigned balance rose by roughly $3.5 million compared with the prior year, calling the results the product of "good fiscal management" and conservative choices by staff.
"That unassigned balance is the money available…
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