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San Juan commissioners accept FY2024 comprehensive financial report
Summary
After an auditor presentation, the City Commission accepted the City of San Juan27s annual comprehensive financial report for the fiscal year ending Sept. 30, 2024, noting a $14.5 million bond issue, higher long-term debt and a recommendation to strengthen monthly cash checks.
The San Juan City Commission voted by voice to accept the City of San Juan27s annual comprehensive financial report for the fiscal year ending Sept. 30, 2024, following a presentation by auditor Manuel Garcia.
Garcia, representing the auditing firm identified in the meeting as Garcia Vena, told commissioners the financial statements are "fairly presented in all material respects" for the city27s governmental and business-type activities and the reported component units. He reviewed the government-wide statements, fund balances and a five-year summary that highlighted changes in assets, liabilities and revenues.
The audit showed an increase in long-term debt from about $59.0 million the prior year to roughly $68.0 million for 2024; Garcia said most of that increase was the…
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