Auditor gives clean opinion on Amarillo finances; council tables acceptance for review

Scott Kirschnek of CliftonLarsonAllen presented the annual comprehensive financial report, told council the firm rendered an unmodified ("clean") audit opinion and highlighted key fund positions, including the general fund and the water and sewer fund. Kirschnek called the ACFR a "very large, complex document" and walked council through balance-sheet and income-statement highlights.

Kirschnek said the audit team found that, "in our opinion that the financial statements are materially correct" and highlighted specific figures including a general fund ending fund balance that the report lists near $47.8 million and substantial cash, investments and restricted balances in the water and sewer fund. He also identified estimated arbitrage liabilities and recommended council review the detailed schedules. Several council members said they had not had time to digest the full report; the council voted to table acceptance and asked Kirschnek to return for a dedicated review session so members can ask line-item questions and reconcile outstanding items before formal acceptance.