Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the City Finance Audit topic
No spam. Unsubscribe anytime.
City auditor presents 2025 audit; Rock Island receives clean opinion and no internal control findings
Summary
City auditor Hannah Collerton told the Rock Island City Council the 2025 comprehensive financial report received an unmodified (clean) opinion with no internal control findings; she summarized key assets, liabilities, revenue/expense figures and noted upcoming GASB reporting changes.
Hannah Collerton, audit manager at Lauterbach and Amen, told the Rock Island City Council the city's 2025 comprehensive annual financial report received an unmodified, or "clean," auditor's opinion and contained no internal control findings.
"We gave an unmodified or clean opinion," Collerton said, describing that as the highest opinion auditors can give. She walked the council through major financial statements, saying governmental activities' assets and deferred outflows were about $191 million and business-type activities about $165 million. She reported revenues for governmental activities at roughly $68.2 million and business-type revenues at about $40.7 million, with net position changes up about 29% for governmental activities and 9% for business-type activities.
Jessica (city finance staff) and Collerton both praised the finance team's preparation during the city's software transition from GEMS to Tyler. "We were a little apprehensive with how this audit would go, especially having two different systems," Jessica said, and Collerton agreed the audit "was probably one of the smoothest audits that we've had so far." Collerton noted the certificate of achievement for excellence in financial reporting was again recognized in the report and highlighted where residents can find financial statements and the management discussion and analysis section for a high-level summary.
Council members asked questions about the single audit and grant selections; Collerton confirmed a single audit was completed but said she would follow up with which federal grants were selected. Staff also said the city is still awaiting several state and federal grant payments from 2025. Collerton pointed out forthcoming accounting standards (GASB 103 and a related GASB statement effective in 2026) and said these are reporting and disclosure-focused changes the city can address in upcoming audits.
The presentation concluded with Collerton offering to answer further questions and confirming the audit report will be posted to the city's website after council review.
