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External auditors issue clean opinion for 2024; staff outline 2025 audit timeline
Summary
Brooks and Watson reported a clean (unmodified) opinion on the 2024 financial statements, noted some internal‑control recommendations and estimated the 2025 audit could be substantially completed in September with a draft in October and possible issuance by November.
Lewis Breedlove of Brooks and Watson (S6) presented the audit results for 2024 and said the firm issued an unmodified (clean) opinion for the year. "We did have a clean report issued this year for 2024," Breedlove said, and he walked the council through the standard audit phases — assessment, fieldwork and reporting — and emphasized the firm’s use of third‑party confirmations and cutoff testing.
Breedlove summarized the financial highlights for 2024: a planned drawdown of $693,000 in the general fund, an $86,000 favorable variance on total expenditures against budget, and a net positive budget variance of $374,000. He also summarized the proprietary funds: water reported about $230,000 in operating income, wastewater $29,000, and the marina a $63,000 loss tied to damage and a temporary closure. On internal controls, Breedlove said the communication letter included standard accrual recommendations and other process suggestions; no uncorrected misstatements remained.
When asked about the timeline for the 2025 audit, Breedlove estimated most fieldwork could be completed in September with a draft report by October and issuance by October or November if no surprises arise. He cautioned timelines can slip if unexpected issues are encountered.
