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Scottsdale audit: clean opinion, no material weaknesses reported

Scottsdale City Council · January 14, 2026

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Summary

Independent auditors issued a clean opinion on Scottsdale's FY24‑25 financial statements and component units and reported no material weaknesses or significant deficiencies; city treasurer presented year‑end results showing modest revenue growth, increased expenditures tied to personnel and strong liquidity bolstered by bond proceeds.

Scottsdale’s independent auditors presented the city’s fiscal year 2024‑25 audit to the City Council on Jan. 13, 2026, delivering a clean opinion on the citywide financial statements and on five component units, and reporting no material weaknesses, significant deficiencies or noncompliance in internal control.

Britney Williams of Heinfeld, Mech & Company told the council the firm will issue a single‑audit report and a state funding compliance report soon, and that so far "everything looks good" with the audits. Acting City Auditor Lake Clough introduced the presentation and said the audits were completed in November and reviewed by the audit committee in December.

City Treasurer Sonia Andrews presented an accompanying year‑end financial summary: general fund revenues were about 2% higher than the prior year, led by sales tax and fee increases and unrealized investment gains; expenditures rose about 2%, mainly due to personnel costs. Capital project revenues rose (about $23M, largely driven by regional transportation sales tax), and the city reported increased cash and investments primarily because of bond issuances near fiscal year end.

Andrews said the city maintained strong liquidity and its AAA bond rating, noted net pension and debt figures, and reported a preliminary expenditure limitation estimate at about 92% of the state cap; she said work continues on final calculations and federal grant audits. Council moved to accept the audit reports during the meeting.

Mayor and council members thanked auditors and finance staff for sustained reporting quality; staff will return with single‑audit and remaining reports in the coming weeks.