Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit topic
No spam. Unsubscribe anytime.
Downey posts clean audit and separate Measure S/D compliance reports; council receives report
Summary
The city received an unmodified (clean) annual audit for FY 2024–25, with auditors reporting no material weaknesses, no findings of noncompliance for Measure S and Measure D, and no evidence of fraud, waste, or abuse; council voted to receive and file the report.
Downey — The City Council received and filed the city’s Annual Comprehensive Financial Report for the fiscal year ending June 30, 2025, after auditors issued an unmodified opinion and separate compliance reports for Measures S and D showed no findings.
Assistant Interim Finance Director Marlon Ramirez said the ACFAR was prepared under generally accepted accounting principles and that the city again secured a clean audit opinion. “The independent auditors concluded that the city complied in all material respects with the requirements of both measures and that funds are being used in accordance with voter intent,” Ramirez said during the presentation.
The audit team from LSL confirmed they identified no material weaknesses, significant deficiencies, or instances of noncompliance, and reported no findings of fraud, waste or abuse. An auditor noted the firm would also issue a single-audit report over federal award programs as required by uniform guidance.
Councilmembers thanked staff and the auditors for the work. A motion to receive and file the ACFAR passed unanimously.
The presentation noted the city’s net position increased year over year and that the City has earned a Certificate of Achievement for Excellence in Financial Reporting for 26 consecutive years. Staff said the separate Measure S and Measure D compliance reports will continue to be included with future ACFARs to maintain transparency and accountability.
