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City audit yields clean opinion but flags repeated reporting and budgeting findings, auditor says
Summary
Pew CPAs presented a clean audit opinion for the fiscal year ending June 30, 2025, while identifying three findings — two repeats — tied to financial reporting/account reconciliations and budgeting controls; staff and auditors outlined steps to improve systems and monitor amendments.
City auditors presented the fiscal 2025 audit to Oak Ridge City Council and said they issued an unmodified (clean) opinion on the city's financial statements while reporting three findings that require council attention.
Gary Mitchell of Pew CPAs told council the auditor's report highlights included a clean opinion and a decrease in unrestricted net position, driven in part by capital investment in the electric and water/wastewater systems and a $12 million interfund loan made after the fiscal year end to…
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