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Seminole audit: independent auditor issues clean opinion; city reports $2.0M carryover and $25.7M debt
Summary
An independent audit delivered an unmodified (clean) opinion for the city of Seminole, noting roughly $4.0 million in federal expenditures, a general-fund carryover of about $2.0 million (≈19% of annual revenues) and total outstanding debt near $25.7 million, including recent sewer-plant draws.
Bob Dylan of Dylan & Associates PC told the Seminole City Council on Monday that the city's fiscal 2024/25 financial statements received an unmodified audit opinion, meaning the auditor did not find material misstatements in the statements presented.
Dylan said the city reported about $4.0 million in federal expenditures during the year, roughly $2.5 million of which related to airport activity and the remainder to various grants. He told the council the…
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