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Carpinteria receives clean audit, general fund balance exceeds expectations
Summary
Independent auditors issued an unmodified opinion on the city’s FY 2024–25 financial statements; the general fund ended with a $13.4M balance and the city met its 40% economic uncertainty reserve policy.
City finance staff and the independent auditor presented the Annual Comprehensive Financial Report for the fiscal year ended June 30, 2025, during the Dec. 8 Carpinteria City Council meeting. Auditor Ramos/Anderson Mallody & Scott delivered an unmodified (clean) opinion, indicating the financial statements are fairly presented in all material respects.
Staff reported the general fund (including Measure X) ended the year with a $13.4 million balance, higher than projected due to stronger revenues and salary savings from vacancies. The city met its policy target for the economic uncertainty reserve — approximately $5.6 million (40% of general fund operating expenditures). Across all city funds the combined ending balance was reported as $17.9 million.
The independent audit manager, Evelyn Morenton Barcena, outlined the audit approach and noted that reasonable assurance (not absolute assurance) underlies the audit opinion. The audit did not identify any material weaknesses or significant deficiencies in internal control, and the city did not meet criteria for a single‑audit this year.
Councilmembers asked about the reserve policy rationale and whether personnel savings are ongoing; staff said personnel savings reflected prior-year vacancies and will vary year to year. City staff also noted that a business-license tax analysis will be returned to council in April as part of ongoing fiscal‑policy work.
Council voted to receive and file the ACFR and related reports.
