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Auditors give Buckeye a clean opinion; restatement noted for compensated absences
Summary
Heinfeld Meach issued an unmodified ("clean") opinion on Buckeye's fiscal 2025 financial statements and reported no significant audit findings; auditors said a $1.7 million restatement was required to implement a new compensated‑absences accounting standard.
City auditors presented the annual comprehensive financial report for the fiscal year ending June 30, 2025, and reported a clean audit opinion.
Jill Shaw, an audit partner with Heinfeld Meach, told the council the audit followed generally accepted auditing standards and uniform guidance for federal awards, and that the auditors issued an unmodified opinion on the city's financial statements. "We did issue an unmodified opinion, also known as a clean opinion," Shaw said.
Shaw said the audit required one restatement of beginning balances — a $1,700,000 adjustment tied to a new accounting standard for compensated absences that expanded which leave balances are recorded as liabilities. Shaw also said the auditors made no audit adjustments that met the criteria for reporting in the auditor's communications and found no significant deficiencies or material weaknesses in internal control.
Shaw summarized the audit timeline and compliance steps, noting that the city's federal single audit covered programs including the airport improvement program and that the city is considered low risk in the single‑audit context. Council members had no follow‑up questions; the mayor and council thanked staff and the finance department for the audit work.
