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Brentwood posts $2.7 million surplus, receives clean audit for FY 2023-24
Summary
City staff reported a $2.7 million surplus for fiscal 2023-24 and a clean independent audit; the council heard that roughly $733,000 of the surplus will go to pension prepayment and discussed timing for a separate housing tax-credit item.
The City of Brentwood—s finance team reported positive fiscal results for the year ending June 30, 2024, and independent auditors issued an unmodified (clean) opinion, the council heard on Dec. 10.
Finance Director Sonia Agostini summarized fiscal results: "For the year ended 06/30/2024 the city's general fund reported positive financial results with revenues exceeding expenditures and reserve requirements by about $2,700,000," she said, noting $1.1 million in one-time investment gains and a $1.2…
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