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City auditor reports clean FY2025 opinion; no internal control findings or ARPA compliance issues
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Summary
Lehi LLP gave Livingston City an unmodified (clean) audit opinion for fiscal year 2025, reporting no material misstatements, no internal control findings, and a clean single‑audit on American Rescue Plan Act spending.
Lehi LLP presented the City of Livingston’s annual comprehensive financial report for the year ended June 30, 2025, reporting an unmodified opinion and no material audit adjustments.
"The unmodified auditors opinion goes in hand with the Generally Accepted Auditing Standards… unmodified basically means unqualified clean opinion," audit partner James Butero told the council, adding that there were no findings on internal control or federal award compliance for ARPA funds.
Butero reviewed required supplementary and footnote disclosures, explained the new GASB 101 estimate treatment for compensated absences (which had no material impact), and said pension and OPEB actuarial assumptions were reasonable. He also said fund‑level benchmarks and liquidity ratios were within expected ranges and that the general fund outperformed budget projections by roughly $470,000.
Council asked clarifying questions about fund transfers and ARPA spending; staff described transfers from a revenue stabilization fund to water and non‑major governmental funds to support infrastructure projects and to smooth utility rates during the pandemic period. No additional council action was required beyond receiving the report.
