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City audit returns clean opinion; long‑range plan projects modest drawdown of unassigned general fund balance
Summary
City finance staff presented the Annual Comprehensive Financial Report and a 10‑year long‑range financial forecast. Auditors issued an unmodified opinion and noted no material internal control findings; staff said net position rose and projected a modest reduction in unassigned general fund balance over the forecast period.
City finance staff and the city’s independent auditors on Monday presented the Annual Comprehensive Financial Report (ACFR) for fiscal 2024 and an updated long‑range financial plan, reporting a clean audit opinion and outlining revenue and expenditure trends through the late 2020s.
Deputy Chief Financial Officer Carlisha Jenkins and finance staff summarized the ACFR. Auditor Hermes Garzon of CBIZ told the council the audit produced an unmodified (clean) opinion; the auditors reported no material weaknesses or compliance findings and performed a single audit of federal and state awards that produced no reportable noncompliance.
Key fiscal figures
- Total government‑wide assets ended the fiscal year at about $1.5 billion; total liabilities were roughly $469 million. - The city’s net position increased by about $24.4 million over 2023. - Property tax revenue for governmental activities totaled about $122.7 million; "other taxes" were about $86 million. - The water and sewer enterprise reported roughly…
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