The Board of Commissioners unanimously accepted the City of Fairview’s audit for the fiscal year ending June 30, 2025. Auditors reported an unmodified (clean) opinion and said the report showed about $37 million in assets, roughly $19 million in liabilities and approximately $11.6 million in fund balance (about 57% unrestricted). The auditor noted that some federal COVID-related funds (approximately $2 million) remain unspent and must be monitored for allowable use through the end of 2026.

City Manager Tom Daugherty and the auditor said expenditures in the audited year exceeded current-year revenues but that those expenditures were funded from prior bond proceeds and capital projects. The auditor also described the threshold for single-program federal compliance audits (noting a $1,000,000 federal expenditures threshold for that additional compliance step).

In a separate item, Fire Chief Hughes requested and the board approved a nonmatching equipment grant from the Firehouse Subs Public Safety Foundation totaling roughly $7,600 to provide two hydraulic cutters to expand rescue capabilities; Chief Hughes said the foundation generally acquires and delivers the equipment directly.

Both measures were approved by voice vote. City staff said the audit has been posted on the state comptroller's website and will be filed according to standard procedure.