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Rock Island receives clean audit for 2024; auditors note restatements tied to new GASB rules
Summary
City auditors issued an unmodified opinion on Rock Islands 2024 financial statements but required restatements after implementing new GASB guidance (compensated absences) and reclassifying the Cafeteria Fund; auditors said a single audit was required because of federal grant activity.
Rock Islands independent auditors reported an unmodified ("clean") opinion on the citys 2024 financial statements and walked city council through key note disclosures and restatements required by recent accounting guidance.
Hannah Cullerton, audit manager at Lauterbach and Amman, told the council "we gave an unmodified opinion or a clean opinion," and described the reports scope, which covers governmental and business-type activities as well as the MLK Center and the Public Library Foundation. Cullerton flagged restatements tied to GASB…
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