An Independent Audit Report on City of Newcastle business during the 2023-24 fiscal year came back with a “clean” opinion.
HBC Certified Public Accountants, represented by Chris Heim, provided the audit to the City during the November Council meeting, and said a “clean” opinion is the best a government entity can get.
He said the numbers provided by the City staff can be relied upon by the City Council and outside agencies.
Heim said the financial highlights included that the City’s net on cash basis increased by $2.8 million. Revenues increased by about $300,000 compared to the previous year.
Because the City had a federal grant of $15 million, a second audit was performed.
Heim said the City complied in all material respects with the federal grant agreement.
Council members unanimously approved receipt of the audit.
