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City audit finds no findings, highlights $68M water/sewer construction-in-progress
Summary
An independent audit of the City of Oxford’s FY2025 financial statements delivered an unmodified opinion and no internal-control findings, while auditors flagged large construction-in-progress balances tied to water and sewer capital work.
An independent auditor told the City of Oxford Board of Commissioners on Feb. 2 that the city’s financial statements for the year ended June 30, 2025, received an unmodified opinion and showed strong fund balances and liquidity.
Lee Grissom of S. Preston Douglas, the auditor, said the firm issued "an unmodified opinion," the highest level of assurance an independent CPA firm can give, and reported no material weaknesses or significant deficiencies in internal control. Grissom credited city staff…
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