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Dunedin receives unmodified audit opinion for fiscal 2025; general fund remains strong
Summary
External auditors delivered an unmodified (clean) opinion on Dunedin's FY2025 financial statements; staff highlighted strong net position and an unassigned general-fund balance of 28.7%, with hurricane-related FEMA timing affecting reimbursements.
Finance Director Les Tyler and external auditors presented the City of Dunedin's fiscal year 2025 comprehensive annual financial report and audited financial statements. Jeff Wolf, representing the auditing firm, told the commission the city received an "unmodified opinion," the highest level of assurance that financial statements are materially correct.
Wolf said auditors found no material weaknesses or significant deficiencies in internal controls and no single-audit findings for major federal or state programs selected this year. He noted a non-material timing difference related to FEMA revenue recognition and said staff elected not to adjust given immateriality. Key financial metrics highlighted included positive net position across government and business-type activities and an unassigned general-fund balance of about 28.7% (down from 45.1% the prior year due largely to hurricane expenses and delayed FEMA reimbursement).
Commissioners thanked staff and auditors for the work and asked clarifying questions about enterprise funds, current ratios, and whether the audit firm planned to submit the report for GFOA review; staff said the CAFR was submitted June 29 for GFOA consideration.
