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Cave Creek receives clean audit; council hears FY2024–25 financial report highlighting capital spending and Phoenix interconnect costs
Summary
Auditors issued an unmodified (clean) opinion on Cave Creek’s FY2024–25 financial statements; council heard that governmental expenditures rose to $17.5 million driven by capital outlays and that ARPA and congressional funds were used toward the Phoenix interconnect project.
Auditors told the Cave Creek Town Council on Jan. 20 that the town’s fiscal year 2024–25 financial statements received an unmodified, or clean, opinion and that testing revealed no material weaknesses in internal control.
Richard Gillespie, senior manager with Advicent, reviewed the audit scope and timeline and said the audit—performed under generally accepted auditing standards—produced a clean opinion and no corrected misstatements. He said auditors found no reportable internal-control deficiencies and no other noncompliance matters.
Town finance staff presented highlights from the annual comprehensive financial report.…
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