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Finance committee refers Portland's annual financial report and auditor-required plan of action to council
Summary
The committee voted unanimously Dec. 8 to refer the city's Annual Comprehensive Financial Report and an auditor-required plan of action to the City Council after hearing the CFO's presentation on material weaknesses and planned fixes.
The Portland City Council's Finance Committee voted unanimously on Dec. 8 to refer the city's Annual Comprehensive Financial Report (ACFR) for the fiscal year ending June 30, 2025, and a required plan of action to the full City Council.
Jonas Berry, the city's chief financial officer, told the committee the ACFR is an important transparency tool for bond rating agencies, investors and the public and summarized material weaknesses identified by external auditors. Berry said the city is addressing root causes by "assigning additional staff resources, enhancing training, and instituting…
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