Independent auditor issues unmodified opinion on Victorville’s FY2024–25 financial statements

Victorville — An independent auditor told the City Council Tuesday that the City of Victorville’s FY2024–25 financial statements are fairly stated in all material respects and issued an unmodified opinion.

Ahmed Badawi, the engagement partner for the independent audit firm, presented the scope of the engagement and the areas of primary audit risk, including revenue recognition and management estimates. Badawi said the audit followed generally accepted auditing standards and government auditing standards and reported no material weaknesses or findings in the city's financial statement audit (the single‑audit of federal grants was noted as still in progress).

Badawi highlighted the city’s healthy unrestricted general fund position — roughly 16 months of expenditures — and described sensitivity ranges for estimated liabilities such as pension and OPEB. He noted management had posted adjustments discovered during the audit and that none were material. The auditor also told council members that the audit was substantially complete before year‑end and that new accounting standards would be discussed with staff going forward.

Finance staff and councilmembers commended the finance department for achieving a clean audit and improving internal controls. The council unanimously moved to receive and file the annual comprehensive financial report and related statements for the Victorville Water District and Southern California Logistics Airport Authority.

What’s next: The city will finish the single audit for federal grant compliance and continue to brief council on accounting standard changes and potential budget implications.