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Bowie auditors issue unmodified opinion; council accepts FY2024 audit
Summary
City auditors gave the City of Bowie an unmodified opinion on its 2024 financial statements, reporting roughly $21.8 million in revenues, $19.7 million in expenses and a $2.1 million net position increase; council accepted the audit after auditors noted material adjustments tied to fund reclassifications.
Valerie Halverson, a shareholder at Mathis West & Huffines, told the Bowie City Council the firm issued an unmodified opinion on the city’s 2024 financial statements, a finding she called “as nice as we get as auditors.” The report shows total revenues of about $21,800,000 and total expenses of roughly $19,700,000, producing a reported increase in net position of about $2,100,000 for the year. Halverson said approximately $1,100,000 of the revenue was capital grants and that the city held additional unearned grant revenue on the balance sheet that is…
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