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Milpitas audit returns clean opinion; council accepts annual financial report
Summary
The external audit for FY 2024–25 returned an unqualified (clean) opinion. The council accepted the annual comprehensive financial report and related audit documents; staff highlighted reserve increases and a planned federal single audit beginning in January 2026.
Finance Director Luz Cofresi Howe reported that external auditors (Mays and Associates) issued an unqualified, or "clean," opinion on the City's FY 2024–25 financial statements. The report package includes the ACFR, the memorandum on internal control, the agreed-upon procedures report, and notes that the federal single audit will begin in January…
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