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City auditor issues unmodified opinion; audit notes $7.7M in capital spending and strong cash reserves
Summary
The city’s auditor reported an unmodified opinion on Erlanger’s financial statements, no material weaknesses in controls, planned pension/OPEB adjustments and roughly $19.2 million in cash plus $4.3 million in investments, reflecting about 10 months of operating reserves despite $7.7 million in capital outlays this year.
John Chamberlain, a partner at Chamberlain Owen & Company, told the Erlanger City Council the firm issued an unmodified opinion on the city’s fiscal 2024 financial statements and found no material weaknesses or significant deficiencies in internal controls. "We've given what's called an unmodified opinion," Chamberlain said during the council's Dec. 2 meeting.
Chamberlain highlighted several notable accounting adjustments and trends. He said the audit included planned adjustments related to pension and OPEB — a roughly…
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