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City of Claremont receives clean independent audit; ARPA single-audit had no findings
Summary
The city's independent auditor reported an unmodified opinion for the fiscal year financial statements and found no material weaknesses, significant deficiencies or compliance findings; ARPA expenditures triggered a single-audit this year and produced no findings, staff said.
The City of Claremont presented its fiscal-year independent auditor's report to the council on May 1, and auditor Heather Mosher of Carr, Riggs & Ingram told the meeting the firm issued an unmodified opinion, meaning the financial statements were not materially misstated.
"We issued an unmodified opinion," Mosher said, adding the auditor found no material weaknesses, significant deficiencies or issues of noncompliance in either the city's financial statements or the CRA reports. She also told council that new Governmental Accounting Standards Board standards were implemented this year but were not material to prior-year balances.
Finance Director Scott Ward explained the city also underwent a single-audit because ARPA expenditures exceeded the federal threshold for testing; Mosher said that single-audit produced no compliance findings. The city's Popular Annual Financial Report (PAFR) and full audit package are posted by the finance department on the city's website for public review, staff said.
Council members asked about new GASB standards, particularly a change requiring municipalities to estimate a liability for compensated absences such as sick leave; Mosher described the standard as a complex estimate but said the city did not need to restate prior-year balances because the effect was not material.
The presentation concluded with council questions about where to find the reports and with the staff noting the finance department had produced a new PAFR to summarize audited results for residents. No action was required; the audit was presented for council and public record.
