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Pleasanton council accepts audited financial statements after staff highlights clean audit and one-time development revenues
Summary
The Pleasanton City Council unanimously accepted the city's FY2025 audited financial statements, which included a clean (unmodified) opinion; staff told council the year-end surplus largely reflected one-time development revenues and noted pension and other accrual accounting changes that increased reported liabilities.
The Pleasanton City Council on Jan. 20 unanimously accepted the city's audited financial statements and related reports for the fiscal year ended June 30, 2025.
Finance Director Susan Hsieh told the council the independent auditors issued an unmodified (clean) opinion. She said consolidated assets and deferred outflows topped $1,000,000,000, up about $15,000,000 from the prior year, with capital assets reported at more than $680,000,000 and cash and investments of roughly $340,000,000. Consolidated liabilities and deferred inflows were reported at about $340 million, an increase of roughly $11,000,000, driven in part by implementation of a new accounting standard for…
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