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City finance director and auditors report strong audit, healthy fund balance and minor compliance notes
Summary
Assistant Finance Director Carly Jensen and auditors from HBME told the council the city's ACFR shows a $58 million general fund balance and unassigned balance at about 21% of revenues; auditors reported strong controls, no major findings, and two remediable items (a budget omission for a new-market-tax-credit fund and a delayed FAA grant single-audit report).
City finance staff and the independent auditors presented the annual comprehensive financial report and audit findings at the Feb. 3 work session, highlighting fund balances, internal controls and a small number of audit flags that staff will address.
Carly Jensen, assistant finance director, described the ACFR structure and reported a general fund balance of about $58 million for fiscal year 2025. She said unassigned (spendable) fund balance equates to roughly 21%…
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