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Lewiston audit: city receives clean opinion; fund balance grew as school subsidy and investment earnings rose
Summary
External auditors gave Lewiston an unmodified (clean) opinion on the consolidated FY audit and highlighted a roughly $31 million assigned fund balance, stronger investment earnings and an increase in intergovernmental revenues tied to higher school subsidies.
Ron Smith, principal managing partner at RHR Smith, told the Lewiston City Council that the firm issued an unmodified (clean) opinion on the city’s consolidated audited financial statements. "You got our highest professional audit opinion that exists out there," Smith said during a workshop presentation, noting the audit condensed a roughly 125‑page report into a shorter summary for council review.
Smith walked councilors through the city’s fund balance composition and called particular attention to what he described as an assigned fund balance of about $31,000,000 — an increase of about $7,000,000 from the prior year. He said approximately $21,000,000 of that…
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