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Monroe City receives clean audit for FY2024–25; GASB change increases compensated‑time liability
Summary
Plante Moran delivered unmodified audit opinions on Monroe's FY2024–25 financial statements and federal‑grant compliance; a retrospective implementation of GASB No. 101 increased reported compensated‑absence liability by about $650,000 but did not affect cash budgets, auditors said.
Plante Moran auditors told the Monroe City Council on Dec. 1 that the city's FY2024–25 financial statements received an unmodified (clean) audit opinion and that the city also received unmodified compliance opinions for its federal awards, including American Rescue Plan Act funds.
Bill Brickey, audit partner for Plante Moran, said the firm found no internal control weaknesses or audit findings that required disclosure. "You did receive what we refer to as an unmodified audit opinion," Brickey said, summarizing the firm's conclusion.
The auditors described four core deliverables: the audited financial…
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