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Owensboro audit: clean opinion, strong fund balances as city posts year-to-date revenue gains
Summary
The Owensboro City Board of Commissioners received a clean annual audit and a November financial report showing growing fund balances, reduced long-term debt and stronger-than-budgeted revenues; the board voted to file the financial report and accepted the audit.
Owensboro City officials told the Board of Commissioners on Dec. 16 that the city received an unqualified (clean) annual audit and is on solid financial footing.
Max, the lead auditor from ATA PLLC, said the audit produced "an unqualified or clean opinion," that the government has a substantial unrestricted general fund balance and that long-term debt and unfunded pension and OPEB liabilities have decreased in recent years. He reported a combined governmental fund balance of $98,900,000 and…
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