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Gulfport council receives audit showing strong reserves and a clean opinion
Summary
City auditors told the Gulfport City Council they are issuing a "clean and unmodified opinion" on the city's financial statements; the council formally received the comprehensive annual financial report. Auditors highlighted large cash balances, a modest net increase in net position and a healthy general-fund position.
The Gulfport City Council on Oct. 8 received the city’s comprehensive annual financial report and supporting compliance reviews after independent auditors presented what they called a "clean and unmodified opinion." Lucas Hand, the senior manager who oversaw the audit, told the council the audit was completed under generally accepted auditing standards and government auditing standards.
Hand said the government-wide financial statements show total assets of about $877 million, including roughly $629 million in capital assets, and about $167 million…
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