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City receives clean audit showing grant‑driven revenue gains and solid fund balances
Newman City Council · December 10, 2024
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Summary
Independent auditors gave the City of Newman an unmodified (clean) opinion for fiscal year ending June 30, 2024, reporting about $68 million in combined net position across governmental and business‑type activities and revenue increases driven by grants for capital projects.
Michael O'Connor of O'Connor and Company presented the City of Newman's audited financial statements for the year ended June 30, 2024 and reported an unmodified opinion — the firm's highest level of assurance.
O'Connor summarized key figures: roughly $40 million in net…
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