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Auditors give Petersburg Medical Center a clean opinion; board hears operating pressures from work-building and pension entries
Summary
Auditors (DZA) issued an unmodified (clean) opinion on PMC's FY2025 financial statements, reporting positive operating cash flow, large capital grants tied to the work building, and no material internal control findings; board discussed operating loss driven by pension/OPEB accounting and the need for formal grants-management policies.
Independent auditors from DZA presented Petersburg Medical Center’s audited financial statements for the fiscal year ended June 30, 2025, and issued an unmodified opinion, saying the financial statements are "fairly stated in all material respects." Sean Johnson of DZA told the board the audit produced a clean opinion and no internal-control findings classified as material weaknesses or significant deficiencies.
Auditors highlighted that capital grants—primarily related to the work building project—drove much of the organization’s reported change in net position, and that operating results are affected by pension and other post-employment benefits (OPEB) accounting. The auditors reported an operating loss after accounting adjustments but noted…
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