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CU receives clean rating in audit

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The Board of Public Utilities Thursday accepted an independent auditor’s report that gives City Utilities an unqualified, or “clean,” opinion.

The audit rating is the highest the organization could achieve, according to a CU news release.

KPMG of Kansas City audited CU’s financial statements for the fiscal year ended Sept. 30.

“In our opinion, the financial statements present fairly, in all material respects, the respective financial position of the public utility, the water utility and the total business-type activities of City Utilities as of Sept. 30, 2006 and 2005,” the audit report states.

CU conducts an independent financial audit annually.

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