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Benbrook council accepts audited annual comprehensive financial report for fiscal year ending Sept. 30, 2024
Summary
Council accepted the city's audited annual comprehensive financial report for the fiscal year ending Sept. 30, 2024; the auditor issued an unmodified (clean) opinion and the city reported a net position increase of $7.6 million.
Benbrook City Council voted March 20 to accept the annual comprehensive financial report (ACFR) for the fiscal year ending Sept. 30, 2024, after receiving a presentation from City Manager Rick Overgaard.
Overgaard said the ACFR was audited by Brooks Watson and Company and that the city received an "unmodified or clean audit opinion." He told the council the general fund ending fund balance was $23,617,122, an increase of $1,900,719 from the prior year, and the city's combined ending fund balance was $30,947,073. Total debt was $22,069,030, a decrease of $1,009,274. The city's net position was $85,582,930, a net increase of $7,634,478 compared with the prior year.
"The staff recommends that city council accept the annual comprehensive financial report for the fiscal year ending 09/30/2024," Overgaard said.
Councilmember Tyner moved to accept the ACFR; Councilmember Edison seconded. The council voted unanimously in favor.
During discussion, Councilmember Phillips noted the city had been recognized for sustained excellence in financial reporting: "this is the fortieth consecutive year that [the] Government Finance Officers Association Award for achievement in excellence in financial reporting" was awarded to the city, per comments on the item.
No follow-up tasks were identified during the meeting.
