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External auditor issues clean opinion on Bastrop’s FY24 financial statements
Summary
Crowe LLP presented an unmodified opinion on the City of Bastrop’s FY24 audit; auditors reported a $100M net position and general‑fund ending balance of about $7.3M, while staff acknowledged the audit was late due to staffing changes and historical accounting complexity.
Daniel Hebert, managing director with Crowe LLP, told the council Crowe issued an unmodified (clean) opinion on the city’s FY24 financial statements, the highest level of assurance auditors provide.
Hebert summarized key figures: total primary government assets of about $286 million, liabilities around $186 million and an ending net position close to $100 million. On a modified‑accrual basis, the general fund closed FY24 with about $17.2 million in revenues, about $19.5 million in expenditures, and an ending fund balance near $7.3 million (roughly 37% of operating expenditures, about 4.5 months of reserves).
City staff acknowledged the audit’s late delivery, attributing delays to new accounting staff and the need to untangle several years of records. Staff said they have already engaged to start the next audit earlier and plan to deliver trial balances to auditors by the end of December.
