Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit topic
No spam. Unsubscribe anytime.
Auditors give Granbury a clean opinion on 2023–24 finances; general fund maintains healthy reserves
Summary
The city’s independent auditors issued an unmodified (clean) opinion on the City of Granbury’s annual comprehensive financial report for the fiscal year ending Sept. 30, 2024. The general fund ended the year with $19 million and an unassigned balance of $14.5 million.
The City of Granbury presented its Annual Comprehensive Financial Report (ACFR) for the fiscal year ending Sept. 30, 2024, at the March 18, 2025, council meeting. Patillo, Brown & Hill, the city’s independent auditors, reported an unmodified opinion, indicating the audit found the financial statements to be materially correct.
Eva McGregor, Granbury’s director of finance and chief financial officer, and Cameron Aaron of Patillo, Brown & Hill reviewed highlights. Aaron told the council the audit found no internal control deficiencies and no compliance issues in the single-audit testing of federal awards. The audit tested expenditures of the Coronavirus State and Local Fiscal Recovery Funds (SLFRF) and reported no findings related to that grant.
The report shows the general fund’s ending fund balance was $19,000,000 with an unassigned (unrestricted) fund balance of $14,500,000. Auditors and staff noted that the unassigned balance represents roughly three-quarters of the fiscal year’s expenditures and provides a strong reserve relative to commonly cited benchmarks of two to six months of operating expenses.
McGregor said the city will publish a condensed “popular financial report” summarizing the ACFR for public readers. City officials said no council action was required on the ACFR presentation; the audit and accompanying management communications were provided for the council’s information.
