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Auditors give Tooele "clean" opinion; fund balance rose by about $20 million, auditors note one compliance timing issue
Summary
Larson & Company told the Tooele City Council the 2024-25 financial statements were "presented fairly" under GAAP, reported a roughly $20 million increase in fund balance, and identified one compliance finding that the general fund exceeded the 35% guideline due to timing of transfers.
Martha Hayes of Larson & Company presented the independent audit of Tooele City's financial statements for the year ended June 30, 2025, telling the City Council the auditors' opinion: "the financial statements are presented fairly in accordance with generally accepted accounting principles." Hayes said auditors conducted the work under generally accepted auditing standards and…
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