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City auditor issues clean opinion; residents press for independent forensic review
Summary
An independent audit firm gave the City of Titusville an unmodified opinion on FY2025 financial statements, but public commenters and some council members pressed for a separate forensic audit after an internal review found prolonged asset-tracking problems and missing property dating back decades.
An independent audit by James Moore & Company concluded that the City of Titusville's fiscal year 2025 financial statements were fairly presented in all material respects, the firm told the City Council on March 24.
"We did issue that opinion like in prior years," said Zach Shalfour, partner at James Moore & Company, as he described the firm's financial-statement audit, compliance testing on federal ARPA funds and a state revolving loan, and the separate reports the firm issues under Florida requirements. Shalfour told the council the audit team found no reportable exceptions in the single-audit compliance testing it performed this year.
The auditor also reviewed the city's fund balances and reserves and noted that the city's assigned and unassigned reserves equate to…
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