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Council accepts annual financial report and adopts auditor-required plans to address material weaknesses
Summary
Council accepted the city's FY24-25 Annual Comprehensive Financial Report and adopted a plan of action to address material weaknesses identified by auditors, with staff noting prior PBOT findings and steps to strengthen staffing, training and central accounting processes.
Portland City Council accepted the city's Annual Comprehensive Financial Report (ACFR) for the fiscal year ending June 30, 2025, and adopted a related plan of action intended to address material weaknesses identified by outside auditors.
Christopher Hare, council operations policy analyst, summarized the ACFR and the plan; he said the audit was conducted by Baker Tilly and cited…
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