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Audit near completion; Asheville reports $23.2M obligated for water recovery and monitors cash flow
Summary
City finance staff said the FY25 audit is nearly complete and FY26 first-quarter finances are tracking as expected, while recovery reimbursements for water projects remain delayed; staff said $23.2 million is obligated for pretreatment work and roughly $5.1 million has been reimbursed so far.
Asheville finance officials told the Policy, Finance and Infrastructure Committee on Oct. 28 that the city’s fiscal year 2025 audit is nearly finished and that first-quarter FY26 revenues and expenses are generally performing as expected.
“We do plan to present the results at this meeting in on December 9,” Assistant Finance Director Becky Hochul said, noting auditors have reviewed drafts of the financial statements and the final step is submission to the Local Government Commission, a requirement to maintain the city’s debt ratings.
Hochul said grant-related work under the single audit is delayed because a federal guidance…
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