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Urbana receives clean FY2025 audit; auditors flag pension timing, budget timing and IT awareness
Summary
Auditors reported an unmodified (clean) opinion for FY2025, noted roughly $9 million in new long-term debt and about $20.6 million in added capital assets, and offered three management-letter recommendations—pension funding timing, budget/timing variances, and IT awareness.
Urbana — Auditors presenting the city’s FY2025 comprehensive financial report told the City Council on Jan. 12 that they issued an "unmodified" or clean opinion on the city’s financial statements and recommended several management improvements.
Jamie (auditor partner) summarized the financial report and said the city earned what auditors call an unmodified or clean opinion for the fiscal year ended June 30, 2025. The auditors also highlighted the city’s likely receipt of the Government Finance Officers Association…
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