Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Audit firm issues clean opinion on College Station’s 2024 financial report; net position up about $70 million
Summary
At a March 13 presentation, City Finance staff and new auditors said the city’s annual comprehensive financial report for the fiscal year ended Sept. 30, 2024, received an unmodified (clean) opinion; auditors reported no material weaknesses and no material noncompliance for tested federal programs.
College Station — City staff and auditors presented the fiscal year 2024 Annual Comprehensive Financial Report (ACFR) to the City Council on March 13 and reported a clean audit opinion and improved net position.
Michael DeHaven, the city’s assistant finance director, said the government-wide net position — a GAAP measure comparable to net worth — was $970,975,012 at year-end, an increase of roughly $70 million from the prior year. DeHaven said drivers included investment income, permit fees, grants and utility revenues.
"That is broken down into specific pieces," DeHaven told the council, citing unrestricted net position of about $314.8 million, restricted net…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
