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External auditors give Hampton a clean opinion; city posts modest general fund surplus
Summary
External auditors issued an unmodified (clean) opinion on Hampton's fiscal 2024 financial statements and single-audit of federal programs. Finance Director Carl Daughtry reported a roughly $2.9 million excess of revenues over expenditures for the general fund and highlighted interest income, delinquent personal property collections and business license receipts as key drivers.
Laura Harden, the engagement director for the city's external auditor, told Hampton City Council that the audit of the financial statements for the fiscal year ending June 30, 2024, resulted in an "unmodified opinion," the firm's highest level of assurance. Harden said auditors also issued an unmodified single-audit opinion on compliance for major federal programs and identified no material weaknesses in internal control or reportable noncompliance.
"We issued what is called an unmodified opinion on the financial statements," Harden said during the presentation. She added that auditors "did not identify any misstatements that had to be corrected by management." Shelby Brown, the audit manager on the engagement, joined Harden in…
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