Walnut Creek council accepts clean audit of fiscal 2025 comprehensive financial report

The Walnut Creek City Council voted Dec. 16 to accept the city's Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2025, after a staff presentation and questions from the dais.

Kirsten Lacasse, Administrative Services Director, summarized key items from the audited report: the independent auditors issued a clean opinion; governmental net position increased by $5,100,000 to $336,300,000; general fund total fund balance was $123,700,000 with an unassigned fund balance of $310,000; and Measure O transaction-use tax revenue was about $12.5 million for the fiscal year. Lacasse also noted that operating revenues grew roughly 2% while expenditures rose 6.4%, producing a tighter budget outlook for the coming year.

Councilmembers asked follow-up questions on the sales-tax reporting change that reduced some growth and on drivers of higher expenditures, to which staff cited insurance increases, utility costs, and salary/benefit pressures. The council motion to accept the ACFR passed by roll call.