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San Luis council accepts city's FY2025 audited financial report
Summary
Council accepted the annual comprehensive financial report for the fiscal year ended June 30, 2025, after a presentation by audit partner Britney Williams, who reported a clean opinion and no federal findings; the council approved the report by voice vote.
The San Luis City Council voted to accept the city's Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2025, following a presentation by the city's external auditors.
Britney Williams, engagement partner for the audit firm, summarized the results and said the firm issued an unmodified (clean) opinion on the financial statements and no findings on tested federal awards, including the remaining coronavirus state and local fiscal recovery funds. She noted a GASB accounting change related to compensated absences that increased a liability on the financial statements but said there were no disagreements with management and no difficulties encountered during the audit. "We gave a clean opinion," Williams said.
Council members asked for clarifications about changes in cash and investments year over year; Williams and finance staff directed members to the Management's Discussion and Analysis section of the ACFR for year-to-year comparisons and line-item explanations. After discussion, Council member (speaker S18) moved to accept and approve the ACFR for the fiscal year ended 06/30/2025; another member seconded and the motion carried by voice vote.
The acceptance authorizes the ACFR to be filed as presented; no amendments or conditions were included in the motion.
