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Auditor issues clean opinion for fiscal year ended June 30, 2025
Summary
Cherry Eckhart engagement director Laura Harden reported an unmodified (clean) opinion for James City County's FY2025 financial statements issued Dec. 4, 2025, no material weaknesses in internal control, no reportable noncompliance, and a retroactive implementation of GASB 101 that restated beginning net position by just over $5 million.
An independent audit engagement director presented the results of the county’s fiscal‑year audit and told the Board of Supervisors the auditors issued an unmodified opinion on the financial statements for the year ended June 30, 2025.
Laura Harden, the engagement director identified in the meeting, said the audit report was issued Dec. 4, 2025, and represented a clean opinion — the highest level of assurance an auditor issues. She told the board auditors did not identify any material weaknesses in internal control over financial reporting, found no instances of noncompliance under the auditing standards and the Commonwealth of Virginia’s audit specifications that would require reporting, and identified no fraud, illegal acts, waste or abuse during standard audit procedures.
Harden noted one accounting‑standard change: the county implemented GASB Statement No. 101 on compensated absences retroactively, which resulted in a restatement of the beginning net position of just over $5,000,000; details are available in the audit notes referenced in the financial statements. The firm also said it would complete single‑audit procedures for federal programs once the Office of Management and Budget compliance supplement items were finalized and that those procedures did not affect the unmodified opinion on the county’s basic financial statements.
Board members thanked the auditor and county staff for their work preparing the audit. The presentation closed with the auditor offering to answer questions; no material disagreements between auditors and management were reported during the meeting.
