Independent auditors give Carson a clean opinion for FY 2024–25; general fund balance rises

Independent auditors from Vasquez & Company presented the results of the fiscal year 2024–25 audit to the Carson City Council on Feb. 3, 2026, issuing an unmodified (clean) opinion on the city's financial statements and on compliance with federal requirements (single audit). The auditors reported no material weaknesses or significant deficiencies in internal control over financial reporting.

Christie Canada, engagement team lead, said the city's government‑wide net position was about $595.1 million — an increase of roughly $36.5 million from the prior year — driven by higher revenues and lower expenses in the presentation. The general fund balance increased by about $32.7 million to roughly $252.0 million, with an increase in unassigned fund balance noted in staff materials.

The auditors identified three major federal programs for review (Land and Water Conservation Fund grant, HOME Investment Partnerships Program, and ARPA funds) and performed the required compliance work; they reported one administrative finding in the compliance audit for federal awards but no questioned costs. Auditors also noted the city implemented GASB 101 regarding compensated absences and highlighted other forthcoming GASB changes to be considered in next year's reporting.

Deputy City Manager Armina Chaparian and council members recognized the finance team and Vasquez & Company for their work; staff said they will continue to monitor accounting standards and implement auditor recommendations.

Next steps: Staff to track the single audit finding to closure and continue implementing GASB updates referenced by the auditors.