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Fort Thomas auditors give unmodified opinion; council weighs costly forensic review of prior accounting
Summary
Auditor John Jengrelin reported an unmodified opinion on the city’s fiscal 2024 financial statements and highlighted planned and unplanned adjustments. Council debated commissioning a forensic audit to probe past bookkeeping irregularities after the audit identified prior‑period adjustments.
John Jengrelin, CPA and partner at Jengrelin Owen and Company, told Fort Thomas city council on Jan. 20 that his firm issued an unmodified opinion on the city’s financial statements for the year ending June 30, 2024, finding no material weaknesses or significant deficiencies requiring modification. "That is the highest opinion that we give," he said, and added the audit found compliance with Kentucky law and federal requirements tested under 2 CFR 200 for ARPA funds.
The presentation itemized adjustments the auditors made: a planned pension liability reduction of about $1.6 million, an OPEB liability reduction of about $1.2 million, and a $1.4 million…
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