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External auditors give Newport News an unmodified opinion on FY2025 audit, note one corrected material weakness
Summary
External auditors reported an unmodified opinion on Newport News's FY2025 financial statements, said no reportable noncompliance was found, noted one material weakness the city identified and corrected during the year, and said federal-program compliance testing remains under review.
Newport News's external auditors reported an unmodified opinion on the city's FY2025 financial statements during the council's year-end work session, a result the audit team described as the best opinion available.
"The audit resulted in an unmodified opinion confirming that the financial report fairly presents the city's financial position in accordance with generally accepted accounting principles," City Manager Alan Archer told council when introducing the auditors. Audit team speaker identified in the transcript said the team had "an unmodified opinion" for the year ending 06/30/2025 and that there were "no areas of noncompliance or anything to report"…
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