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City audit delivers clean opinion; assets and net position rise
Summary
An independent audit of the City of Newport and its Urban Renewal Agency for year ended June 30, 2025, returned an unmodified opinion; auditors flagged no material weaknesses and reported increases in assets and net position, driven in part by work on the Big Creek Dam project.
The Newport City Council heard a presentation Jan. 5 from Jessica Luther Haines, senior manager at Aldrich CPAs and Advisors LLP, who said the firm issued an unmodified ("clean") opinion on the City of Newport and Newport Urban Renewal Agency financial statements for the year ended June 30, 2025.
Haines told the council auditors identified no material weaknesses or significant deficiencies in internal controls and noted no instances of noncompliance in tests of…
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