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Suffolk auditors give city—s FY2025 financial statements an unmodified opinion, note restatements and one material weakness
Summary
Independent auditors issued an unmodified opinion on Suffolk City—s FY2025 financial statements and single audit but reported four noncompliance items, one material weakness (leading to a ~$1.6 million restatement), and other accounting adjustments; city staff reported a $32 million net change and a CIP funding gap.
An independent audit presented to the Suffolk City Council on Monday said the city—s fiscal year 2025 financial statements received an unmodified opinion while auditors reported a set of accounting adjustments and one material weakness.
Laura Harden, engagement director for Cherry Beckert, told the council the firm issued an unmodified opinion on the financial statements and an unmodified opinion on the city—s compliance with major federal programs (the single audit). "We issued what's called an unmodified opinion on the financial statements," Harden said, calling it "the best opinion you can receive as a result of your audit."
Harden said auditors identified four instances of noncompliance under the Commonwealth—s audit specifications (listed in the report as items 2025-2 through 2025-5) and one material weakness in internal control over financial reporting (item 2025-001). That material…
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