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Hagerstown receives clean audit for FY25; auditors report no material weaknesses
Summary
SV and Company reported an unmodified (clean) opinion on Hagerstown's FY25 financial statements, citing no material weaknesses, no audit adjustments, and no awareness of fraud; the report shows asset and revenue growth and notes state and federal reporting deadlines.
Auditors told the Hagerstown mayor and council on Dec. 9 that the city's fiscal 2025 financial statements received an unmodified, or "clean," opinion.
"We issued an unmodified opinion on the financial statements," William (Bill) Seymour, client advisory partner with SV and Company, said during the work session. He told council members their financial statements appeared "reasonably free of material misstatement" and that auditors found no accounting adjustments, no material weaknesses in internal control, and no discovery or awareness of fraud through the procedures performed.
The audit…
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