WS - C - City of Tiffin 2024 - Auditor's Report - Final

Independent Auditor's Report Honorable Mayor and Members of the City Council City of Tiffin Tiffin, Iowa Report on the Audit of the Financial Statements Opinions We have audited the financial statements of the governmental activities, business type activities, and each major fund of the City of Tiffin, Iowa, as of and for the year ended June 30, 2024, and the related notes to basic financial statements, which collectively comprise the City's basic financial statements as listed in the Table of Contents. In our opinion, the accompanying financial statements present fairly, in all material respects, the respective cash basis financial position of the governmental activities, business type activities, and each major fund of City of Tiffin as of June 30, 2024, and the respective changes in its cash basis financial position for the year then ended in accordance with the basis of accounting described in Note 1. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City of Tiffin and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Basis of Accounting As discussed in Note 1, these basic financial statements were prepared on the basis of cash receipts and disbursements, which is a basis of accounting other than accounting principles generally accepted in the United States of America. Our opinions are not modified with respect to this matter. Responsibilities of Management for the Financial Statements In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. 3