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City accepts FY2025 audit with unmodified opinion; GASB 101 noted
Summary
Weaver partner Jennifer Ripka presented the FY2025 audited comprehensive financial report and single audit, reporting an unmodified (clean) opinion and noting implementation of GASB Statement 101 produced a prior-period restatement; council unanimously accepted the audit.
Bedford city leaders accepted the city’s annual audited financial report for the fiscal year ending Sept. 30, 2025, after a presentation from Weaver’s engagement partner Jennifer Ripka.
Ripka told council Weaver performed the audit in accordance with generally accepted auditing standards and government auditing standards and issued an unmodified opinion on both the ACFR and the single audit over federal financial assistance. She described internal-control and revenue-recognition areas as significant risks typical for governments and explained that implementation of GASB Statement 101 required restating prior-year balances related to certain employee benefit liabilities. Ripka also noted that Senate Bill 1851 creates a March 31 audit deadline that affects cities’ ability to change property tax rates if they miss that date.
Council thanked the finance team for a clean audit and unanimously accepted the report. No audit findings requiring corrective action were reported during the presentation.
