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City auditors give Long Beach an unmodified opinion as net position deficit narrows
Summary
Independent auditors told the City Council they will issue an unmodified opinion on Long Beach's FY2025 financial statements and reported no material weaknesses; staff said the city's net position deficit narrowed largely because of infrastructure investments and the general fund increased its unassigned balance.
Alan Walter, a partner with the city's independent auditors, told the Long Beach City Council the firm will issue an unmodified opinion on the city's financial statements for the year ended June 30, 2025, the highest level of assurance the auditors can give. "We will be issuing an unmodified opinion on the city's financial statements," Walter said during the council's February meeting.
Walter and city staff presented several measures of the city's fiscal position. The government-wide net position…
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