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Council receives FY2024-25 audit; auditors flag off-books DDA PayPal account
Summary
Auditors Yo and Yo presented an unmodified opinion for Clawson's fiscal year ended June 30, 2025, but identified a material weakness after the DDA discovered an unrecorded PayPal account (about $10,000) that required a prior-period restatement; council voted to receive and file the audit.
Clawson City Council on Tuesday received the fiscal year 2024-25 financial audit and was told the city's financial statements earned an unmodified opinion, the highest level of assurance from independent auditors.
"Our opinion this year is what is called an unmodified opinion," said Mike Rolka of Yo and Yo CPAs, who presented the audit to the council. Rolka said the firm obtained sufficient audit evidence to conclude the statements were materially correct for the year ending June 30, 2025.
The audit packet showed a sharp increase in governmental fund balances for 2025, Rolka said, driven by bond proceeds that are reported as other financing sources under governmental accounting.…
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