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Galt accepts FY 2024–25 comprehensive financial report and clean audit; council asks for clearer Measure Q and market reporting
Summary
Finance Director Lila Menor presented the FY 2024–25 ACFR noting an unmodified (clean) audit opinion; net position rose to about $291.8 million and the general fund unassigned balance was about $21.2 million. Council requested clearer, separate reporting for Measure Q and market revenues going forward.
The Galt City Council accepted the fiscal year 2024–25 Annual Comprehensive Financial Report and the external auditor's single‑audit report on Feb. 17 after Finance Director Lila Menor summarized key results and fielded questions from council and the public.
Menor told the council the independent auditors issued an unmodified opinion on the city's financial statements. She said government‑wide net position was approximately $291.8 million (an increase of about 8.93%), total assets rose primarily from capital investments, and the general fund maintained an unassigned balance around $21.2 million. Menor attributed revenue increases in part to new home development and property tax growth while noting that some capital grants from the prior year did not recur.
A member of the public, Harry Wentzel, urged clearer breakout tables for Measure Q receipts and uses and recommended posting the ACFR to the city website. Council members asked staff to provide future budget reports that separate Measure Q and market revenues for transparency; Menor agreed to provide combined and separate views in future reporting and said a new financial system (Oracle) is being implemented that should make customized reporting easier.
Council voted 5–0 to accept the ACFR and the auditor letters. Members praised the finance team for the clean audit and asked staff to continue improving public reporting of one‑time capital uses versus ongoing operating expenses.
