Monterey County LAFCO adopts clean audit for fiscal year ending June 30, 2025

The Monterey County Local Agency Formation Commission on Dec. 1 adopted the final audited financial statements for the fiscal year ending June 30, 2025, after the auditor reported a clean audit and no management findings.

Karen Campbell, CPA and senior audit manager at Bianchi, Casavan & Pope, summarized the audit for the commission and said, "Our audit opinion on the financial statements is again labeled an unmodified or clean opinion." She told commissioners auditors encountered no difficulties during the audit, no disagreements with management, and issued no management letter with findings or recommendations. Testing disclosed no instances of noncompliance in internal control over financial reporting and compliance.

Campbell also noted LAFCO's net pension balance now appears as an asset, in part because the agency continues to make annual, on-time contributions to the CalPERS pooled pension plan. She added that statements include comparative columns for FORA (Fort Ord Reuse Authority) with zeros for 2025 because FORA wound down its activity and the last transaction occurred in September 2024.

Commissioners thanked staff and the accounting firm for the work. A motion to adopt the final audit report was made by Mike Bickel and seconded by Chad Lindley; the chair called for a voice vote and the motion passed by affirmative voice vote.

The commission did not record a roll-call tally in the transcript. Auditor Karen Campbell wished commissioners a happy holiday at the close of the item.