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Council accepts city's audited comprehensive financial report, auditor gives unmodified opinion
Summary
City auditors reported unmodified (clean) opinions on city financial statements and internal controls for fiscal 2025; council moved and approved acceptance of the Annual Comprehensive Financial Report, with staff to submit the report to GFOA for certificate consideration.
The Moscow City Council voted March 16 to accept the city's audited Annual Comprehensive Financial Report (ACFR) for fiscal year 2025 after auditors reported no material exceptions.
Nick Mickelson, representing Presno Gage, summarized the audit scope — financial statements, internal-control testing and a single-audit for federal assistance — and said auditors issued unmodified opinions on the financial statements and related reports. "We have placed unmodified opinions on all of those," Mickelson told the council, calling that a "clean opinion." He highlighted an approximate 11% increase in net position (about $211 million across funds), distinctions between restricted and unrestricted equity, and fund-level trends including a general fund carryover and enterprise fund capital accumulation.
Renee Tac of the finance department introduced the report and said the city will submit the document to the Government Finance Officers Association for the Certificate of Achievement in Financial Reporting. Council moved to accept the audited report as presented; a roll-call vote followed and the motion passed.
Mickelson noted fund accounting differences and cautioned that much of the city's reported net position is restricted or tied to capital assets. The auditors also reviewed compliance matters required by the single-audit act for federal funds and raised no modifications.
The acceptance authorizes staff to file the ACFR with external recipients per standard practice; any future appropriations or decisions tied to the financials will follow the city's regular budgeting processes.
