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Lubbock council accepts FY2025 comprehensive financial report after clean audit; reserves, enterprise funds strong
Summary
The City Council unanimously approved a resolution accepting the City of Lubbock's FY2025 Annual Comprehensive Financial Report after Weaver issued an unmodified (clean) audit opinion. Staff highlighted healthy enterprise funds, improved pension ratios and $83.5 million in excess general-fund reserves.
The Lubbock City Council unanimously approved a resolution accepting the City of Lubbock's Annual Comprehensive Financial Report for the fiscal year ending Sept. 30, 2025. The independent auditors from Weaver issued an unmodified (clean) opinion and reported no audit adjustments, findings or suspected fraud.
"We did issue an unmodified opinion," Weaver engagement partner Jennifer Ripka told the council during the presentation, calling it the highest level of assurance auditors can give on a set of financial statements. Ripka said Weaver also performed compliance testing for federal and state financial assistance and identified no findings.
City…
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