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City audit returns clean opinion; council presses for Measure Y clarity and midyear budget review
Summary
The city's comprehensive annual audit produced an unmodified (clean) opinion, but councilors and residents pressed staff for a standalone briefing on Measure Y revenue timing, parking revenue shortfalls and midyear budget options after the audit showed a slight net position decline.
Capitola’s independent auditors issued an unmodified (clean) opinion on the city's annual financial statements, but the council and members of the public used the audit presentation to press staff for clearer Measure Y reporting and midyear budget action.
Finance staff said citywide revenues were about $25.2 million against expenditures of $25.6 million, leaving a net position decline of roughly $400,000 and a general-fund ending balance near $6 million (with $300,000 unassigned). Staff identified main revenue…
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