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Auditor issues clean opinion; board reviews October finances and approves 4‑year annual services contract
Summary
Auditors issued an unmodified opinion for the year ended June 30, 2025; staff reviewed October cash activity and project draw payments; the authority approved the panel’s recommended four‑year annual services contract following a formal motion.
The Virginia Beach Development Authority was presented with an unmodified ("clean") audit opinion on Nov. 17 for the fiscal year ended June 30, 2025, and the board reviewed October financial activity before approving an annual services contract for engineering and architecture work.
Laura Harden, engagement director for the audit firm, told the board the firm issued an unmodified opinion on the authority’s financial statements and that auditors identified…
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