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Soddy-Daisy auditor reports $3.5M revenue rise, $4M higher spending and a "double clean" opinion
Summary
City auditor Brian Wright told the Soddy-Daisy Board of Commissioners that revenues increased by about $3.5 million and expenditures rose by about $4 million, driven by grant awards; the city received clean opinions on both the financial statements and the required single audit.
Brian Wright of Johnson, Murphey and Wright PC reported to the Soddy-Daisy Board of Commissioners on Jan. 18 that the city's revenues increased by approximately $3.5 million from the prior year while expenditures rose by about $4 million, driven largely by higher grant receipts. "The City received a clean opinion and also a clean opinion on the single audit as well which was required due to grant funds," Wright told the commission, calling the outcome a "double clean" opinion.
The report prompted public acknowledgement from commissioners and staff. City Manager Burt Johnson and department staff were thanked for their assistance with the audit process, and Commissioner Shipley noted he could not recall prior audits with findings. The commission approved the meeting minutes for Dec. 7, 2023 before moving on to other agenda items.
The presentation does not indicate any required corrective actions. Wright's reference to the single audit reflects federal grant-audit requirements; the auditor and staff characterized the clean opinions as the most favorable finding available. The board took no further action on the audit at the meeting.
