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City finance director presents FY2024 comprehensive financial report; auditors issue unmodified opinion
Summary
Sheila White, the city's director of finance, presented highlights from the Annual Comprehensive Financial Report for the fiscal year ending June 30, 2024; auditors issued an unmodified opinion and the report showed a stronger net position and a general fund balance of $268.6 million.
Sheila White, the city's director of finance, presented highlights from the Annual Comprehensive Financial Report (ACFR) for the fiscal year ending June 30, 2024. The city's external auditors, CLA, issued an unmodified opinion on the financial statements, the highest level of assurance an audit firm can give.
White said total net position for the primary government was $1,783,300,000 on June 30, 2024, an increase of $206,600,000 from the prior fiscal year. Total assets were $4,377,900,000, and total liabilities were $2,810,800,000. The general fund ended FY2024 with a fund balance of $268,600,000. Property and other local taxes accounted for $738,200,000, or 73.4% of total general fund revenues.
Why it matters: Council members asked detailed questions about midyear budget amendments, large variances in…
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