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Auditors issue unmodified opinion for FY23 but flag recurring internal-control weaknesses; advisors show debt profile and AA2-range diagnostic
Summary
Auditors reported an unmodified opinion on Hopewell’s FY23 financial statements while noting recurring material weaknesses in internal controls; the city's financial adviser presented a diagnostic that places the city's score near a double-A-2 band and said the proposed $15 million borrowing would not materially change the score.
Independent auditors told council they issued an unmodified opinion on the city's FY23 financial statements but reiterated material weaknesses in internal controls related to reconciliations and monthly procedures, largely tied to older years of records. The audit team said those findings are similar to prior years and will persist…
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