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Auditor: Springville receives clean opinion for FY2025; $7.5M in grant awards triggered single-audit review
Summary
City auditor Joe Chapman told the council the draft FY2024–25 audit will carry a clean opinion, noted a $627,000 improvement in fund balance from the prior year and said ADEM grants of about $7.5 million triggered required single-audit reporting; council will vote on the audit in two weeks.
Joe Chapman, the auditor presenting the city’s draft FY2024–25 financial audit, told the Springville City Council the auditors expect to issue a clean opinion for the year ended Sept. 30, 2025.
“That we’re issuing a clean opinion,” Chapman said, summarizing the auditors’ judgment that the city’s financial statements are free from material misstatement. He told the council the city was subject to a single audit this year because it received and spent grant funds above the federal threshold that triggers additional compliance testing.
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