River Falls council accepts clean 2025 audit; $4.13M developer contribution reclassification noted
The council accepted the city's 2025 audit after auditors issued an unmodified opinion. Auditors presented a material accounting adjustment moving about $4.13 million in developer capital contributions from liability to committed fund balance; auditors said the change did not affect total assets or the clean opinion.
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Finance director Josh Salinger and auditor Jonathan Sherwood of CliftonLarsonAllen presented the city's fiscal-year 2025 audit at the Aug. 25 meeting. Sherwood said the audit resulted in an unmodified (clean) opinion and reinforced that the financial statements are free of material misstatement.
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