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Forest Park audit: clean opinion but recurring control weakness leaves council with questions
Summary
External auditors gave Forest Park an unmodified (clean) opinion for FY2025 but flagged a recurring significant deficiency: weak segregation of duties on manual journal entries. Council pressed staff on a $4 million variance, falling reserves and the OPEB liability.
Forest Park’s external auditors told the mayor and council on March 2 that the city’s fiscal year 2025 financial statements earned an unmodified opinion, the highest level of assurance an independent CPA can give, but auditors also reported a recurring, significant internal-control deficiency.
Ryan Jones, a partner with Malden and Jenkins, said the audit produced a clean opinion on both the basic financial statements and the city’s compliance with federal awards, including testing of ARPA expenditures. "Our opinion on the city's financial statements for fiscal year 2025 is an unmodified opinion," Jones said, noting that the firm performed procedures under generally accepted auditing standards.
Why the clean opinion nonetheless included a notable deficiency was the focus of…
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