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Council accepts independent audit; city receives unmodified opinion and expected GFOA award streak continues
Summary
City finance staff presented the annual comprehensive financial report for year ending June 30 and auditors (CLA) issued an unmodified opinion with no material findings; staff said this is the first year on a new financial system and praised finance staff for the result.
Redding—s finance department on March 18 presented the city—s annual comprehensive financial report (ACFR) for the year ended June 30; the outside auditors CliftonLarsonAllen (CLA) issued an unmodified opinion and reported no material findings.
Finance staff and auditors told the council the ACFR is the first produced from the city—s new financial system, a multiyear implementation the department completed for the 2024 audit. Finance Director Greg Robinette and staff credited Tammy Mann and the finance team for producing a clean audit without significant deficiencies or material weaknesses.
Robinette said the city—s ACFR will be submitted for the Government Finance Officers Association—s (GFOA) Certificate of Achievement in Financial Reporting and that the city has received the award for four decades; staff expects the 2024 report to continue that streak. The report also included standard disclosures about pension and OPEB liabilities and the city—s multi-year financial planning; Robinette emphasized that the liability figures are accounting measures and the city—s 10-year financial plan focuses on how obligations will be paid over time.
Council voted to accept the audit and CAFR. No adjustments to the published figures were requested during the meeting.
