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City auditor gives Charlottesville an unmodified opinion for FY2024 financial statements
Summary
External auditors told the council they will issue an unmodified (clean) opinion on the city's FY2024 financial statements; staff said they will publish the written opinion and the annual comprehensive financial report once final items are closed.
The city's independent auditors reported an unmodified opinion on Charlottesville's FY2024 financial statements during the Dec. 16 council meeting. Chris Cullinan, the city's director of finance, introduced the audit presentation and identified the scope: providing reasonable assurance about whether the financial statements are free of material misstatement, testing internal controls and performing sample transaction testing.
Michael Lupton of Robinson, Farmer, Cox & Associates, the audit partner in charge, told the council the firm plans to issue a clean (unmodified) opinion and that they encountered no difficulties performing the audit. Lupton highlighted key accounting estimates that receive auditor attention—depreciable lives of capital assets, pension and OPEB liabilities and allowance for uncollectible property taxes—and said misstatements detected during the audit were corrected by management. Staff noted a collection rate north of 99.5% for property taxes.
The audit team said the written opinion and the city’s annual comprehensive financial report (ACFR) will be published on the city website once final work is complete. Staff also said they will bring a year‑end appropriation package and recommendations for any year‑end surplus back to council.
What happens next: written audit opinion expected within days of the meeting; staff will publish the ACFR and present final appropriation recommendations to council.
