Chattanooga IDB ratifies management representation letter after auditors report clean opinion

The Industrial Development Board of the City of Chattanooga unanimously ratified a management representation letter after hearing a clean audit for the fiscal year ending June 30, 2025.

Auditor Garrett Williams of HHM told the board the firm issued “a clean opinion, which is the best opinion you can have,” and reported no significant deficiencies, material weaknesses, uncorrected misstatements or indications of fraud. He said the audit’s significant accounting policies remained consistent with the prior year.

Why it matters: The management representation letter is an annual document auditors require that affirms management provided information and disclosed any disagreements or known problems. Weston Porter, chief financial officer for the City of Chattanooga, told the board the letter confirms the IDB and city finance staff have “provided you everything you needed” and that it must be signed each year to meet auditing standards.

The board chair moved to adopt the resolution ratifying the action taken by the IDB chair and city finance officer to execute the letter. Following a motion and a second, the board approved the resolution by voice vote; no opposition was recorded.

What auditors said and next steps: Williams said the audit work was completed sooner than typical and that there were no compliance concerns to report. A board member asked whether the audit report would be filed with the state comptroller’s office; staff confirmed the report has already been filed with the comptroller.

The board took formal action to ratify the representation letter at the meeting; staff noted no further follow-up items were required beyond the routine filing and recordkeeping.