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City audit returns clean opinion; auditors flag long-running special-assessment issue
Summary
The city’s independent auditors gave Lincoln an unmodified (clean) opinion for fiscal year 2025 while noting a repeat material weakness tied to special‑assessment debt accounting that they expect to resolve next year. Finance staff and council praised improved controls and fewer audit adjustments.
Justin, managing partner at Mun LLP CPAs, told the City Council the audit for the fiscal year ended June 30, 2025, produced an unmodified (clean) independent auditors’ opinion and a clean single-audit on federal funds. “We have an unmodified or clean opinion, which is definitely good news,” Justin said during the presentation.
Why it matters: A clean opinion signals the auditors believe the city’s financial statements are fairly stated and presented under GASB standards. Council members and staff said the result reflects work to improve internal controls…
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