Independent auditors give Edinburg clean opinion; general fund rainy-day balance equals about 100 days of operations

EDINBURG, Texas — Independent auditors from Casco’s and Associates presented the City of Edinburg’s annual comprehensive financial report for the fiscal year ended Sept. 30, 2024, and issued an unmodified (clean) opinion on the city’s financial statements.

Roel Cantu, the presenting auditor, told the council the city earned an unmodified opinion for governmental and business-type activities and for the discretely presented component unit — the most favorable professional auditing outcome. He said internal-controls testing did not find material weaknesses in the sample tested, though the audit report notes that material weaknesses may exist outside the scope of the firm’s testing.

Cantu drew attention to the city’s general fund unassigned fund balance of $24,521,000 and compared that figure with the city’s projected 2024–25 budgeted expenditures of $89,448,000. Using those numbers, Cantu calculated approximately 100 days of operations covered by the unassigned fund balance if revenues were to stop, and observed that the city’s reserve is within or above common professional recommendations of 70–90 days.

The auditor also presented the Edinburg Economic Development Corporation audit: the EDC reported an unassigned fund balance of $11,689,000 and budgeted expenditures of roughly $10,957,000, representing about 389 days of operations by the auditor’s calculation.

Council members thanked the audit team and city staff for completing the audits despite prior-year delays and turnover in finance leadership. The auditor provided page references to the comprehensive report and invited council members to follow up with questions.