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URA audit: unmodified opinion, one timing comment on supplemental budget transfer
Summary
ClearTrail CPAs presented an unmodified (clean) audit opinion for the Talent URA FY24-25 with one Oregon Municipal Audit comment about a supplemental budget transfer that caused an overexpenditure due to timing; no management letter was issued.
ClearTrail CPAs lead auditor Chris Odell presented the URA’s FY24‑25 audit and reported an unmodified opinion — a clean audit — on the agency’s financial statements. Odell said auditors found one OMS (Oregon Municipal Audit) comment related to the supplemental budget transferring unappropriated ending fund balance outside the emergency provision, which produced a timing‑related overexpenditure. No separate management letter was issued, indicating the auditors did not identify significant deficiencies or material weaknesses in internal control.
Board members asked follow‑up questions about a prior approximately $700,000 loan (discussed in earlier years) that had been returned in a bookkeeping decision; staff explained the loan had been taken with possible forgiveness or as part of a property transfer but that the agency later chose to clean up the books rather than incur additional debt.
The audit presentation was informational; staff noted no motion was required and the board acknowledged receipt.
