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Auditors give city clean FY2025 opinion; reserves, pension notes highlighted
Summary
Auditors from MHP issued a clean, unmodified opinion on the city's FY2025 financial statements, found no material weaknesses or reportable noncompliance, and noted large pension and OPEB liabilities and improved funded status for the paid fire plan.
The City Council heard the results of the fiscal year 2025 independent audit at a Jan. 16 workshop, where outside auditors from MHP delivered an unmodified ("clean") opinion and identified no material weaknesses or instances of noncompliance.
"We provided the city an unmodified or clean opinion," MHP partner Stephanie Pickering told the council, summarizing the independent auditors' report and the single-audit results.
Why it matters: a clean audit opinion means the auditors concluded the city's financial statements present fairly, in all material respects, the financial position for FY2025. The presentation also flagged large actuarial liabilities (net pension and OPEB) that materially affect government-wide financial reporting and warrant council awareness.
Key findings and figures from the presentation: Treasurer Robin Lochman said the city's general fund revenues exceeded…
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