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Audit firm gives Canton City a clean FY2025 opinion; general fund shows operating gap
Summary
Rushton auditors reported an unmodified (clean) opinion on Canton's FY2025 financial statements, citing increased capital net position and liquidity while the general fund showed an operating loss offset by other financing sources; no material internal-control weaknesses were identified.
Rushton's audit team delivered the City of Canton's FY2025 comprehensive financial report and told the council the auditors issued an unmodified opinion on the city's financial statements. "We have issued an unmodified opinion," the presenter said, describing the result as a clean opinion under the applicable auditing standards.
The audit highlighted a rise in the city's net investment in capital assets to about $193 million, up…
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