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City auditor issues clean FY25 opinion but flags material weakness in controls
Summary
SB&Co. reported an unmodified (clean) opinion on Glenarden City’s FY25 financial statements, disclosed a material weakness tied to year‑end adjustments and interfund entries, and told council the city held about $9.8 million in cash versus $6.6 million in annual expenditures.
SB&Co. issued an unmodified—or “clean”—opinion on Glenarden City’s fiscal year 2025 financial statements, but auditors also reported a material weakness in internal control that required management to record several year‑end adjustments.
The finding came during a presentation by Bill Seymour, the engagement partner with SB and Company, who told the Glenarden City Council the firm did not identify fraud in the course of testing but did require adjustments to bring the trial balance into alignment with generally accepted…
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