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Paramount posts unmodified audit but finance director flags rising liabilities
Summary
The city's finance director reported an unmodified audit opinion for fiscal year ending 06/30/2025 and a near-$2 million one-time surplus, while warning of long-term pressures from pension, retiree health liabilities and water-fund constraints.
The City of Paramount received an unmodified auditor’s opinion for the fiscal year ending June 30, 2025, but finance staff told the council the positive result masks structural challenges that will require planning.
Lana Deech, the city’s finance director, presented the year-end audit and said the auditors issued an unmodified opinion — the highest level of assurance — and the city also received a GFOA (Government Finance Officers Association) award for the report’s clarity and completeness. Deech said the…
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