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Davenport audit: independent auditors give city a clean FY2025 opinion, note one accounting adjustment
Summary
City auditors contracted to review Davenport's FY2025 financial statements delivered a clean (unmodified) opinion and cleared the federal-award compliance tests the firm reviewed, while reporting an audit adjustment tied to a deposit-payable account that the auditors said required disclosure as a material weakness.
Davenport City officials heard from contracted auditors that the city received a clean, unmodified opinion on its FY2025 financial statements and on the federal-award programs the auditors tested. CFO Basha Gerlach thanked auditors and city finance staff for their work and introduced the audit presentation.
A senior manager from Eide Bailey told the council the firm agreed with the presentation of the city's annual comprehensive financial report and found no material noncompliance in the areas reviewed. The auditor said the firm proposed an audit adjustment to a deposit-payable account to align it with generally accepted accounting principles; because of the nature and size of the entry the adjustment was reported as an…
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