· Context
FY2022 annual audit issued with an unmodified opinion and a lease-accounting restatement
The independent auditor's report on the City's financial statements for the year ended September 30, 2022 is dated February 21, 2023 and states an unmodified opinion. Beginning net position was restated to apply the new GASB 87 lease standard retroactively.[1]
What the sources say
- ✓ Verified
The independent auditor's report on the City's fiscal 2022 financial statements, dated February 21, 2023, states that the statements present fairly, in all material respects, the City's financial position (an unmodified opinion). It notes the City adopted GASB 87 (leases) in 2022 and that the opinion is not modified with respect to that matter.[1]
- ✓ Verified
The fiscal 2022 ACFR restated governmental-activities net position at September 30, 2021 by -$590,549 to apply GASB 87 retroactively.[1]
- Restatement
- -$590,549