Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Financial Audit topic
No spam. Unsubscribe anytime.
Riverview accepts FY2025 audit; Plante Moran issues unmodified opinion
Summary
Plante Moran presented Riverview's fiscal year ending June 30, 2025, financial statement audit and issued an unmodified opinion. Council voted to accept the audit after brief questions about recurring pension and OPEB adjusting entries and internal controls.
Plante Moran partner Ramzi Abdallah told the Riverview City Council that the firm issued an unmodified opinion on the city—inancial statements for the fiscal year ended June 30, 2025, meaning the auditors consider the numbers reliable and compliant with applicable accounting standards.
Abdallah and audit manager Erica Stanley told council the audit involved several weeks on-site work, routine audit adjustments and two auditor-assisted journal entries related to pension and OPEB liabilities that management reviewed and posted. Abdallah said the firm had "no disagreements with management, no significant difficulties" and that the audit "went very smoothly."
Councilman Webb asked why pension- and OPEB-related adjusting entries have recurred year over year and whether the city should formalize a process to reduce repeating adjustments. Abdallah said the timing of actuarial reports often produces late information during the audit and that Plante Moran can provide guidance to improve the city's process.
The council moved to accept the audit. A roll call vote recorded the motion as passed with all listed members voting yes. The acceptance concludes the audit engagement; Abdallah cautioned that an unmodified opinion speaks to the reliability of the statements, not an assessment of the city's broader fiscal condition.
The council packet includes an 89-page financial statement with the audit opinion and a 10-page letter that documents internal control matters (none significant this year), other required communications, and recommendations for the council's attention. The auditors highlighted interfund loans that remain outstanding and encouraged continued monitoring of the land preserve closure liability and multi-year financial forecasts.
