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Joshua posts a clean FY2025 audit; reserves remain healthy, auditor says
Summary
An independent audit for fiscal year 2025 returned an unmodified opinion and found no material weaknesses; the city reported roughly $11.6 million in assets, about $10.6 million in fund balance with about $3.4 million unrestricted, revenues up about $800,000 from prior year and a net positive change of approximately $748,000.
The Joshua City Council heard an independent auditor—s presentation on the city's FY2025 financial statements and internal controls, receiving an unmodified (clean) opinion and no material weaknesses.
The presenter (auditor) summarized the city—s government-wide results: total assets at about $11.6 million, total liabilities near $881,000 and a total fund balance of roughly $10.6 million. Of the fund balance, the auditor identified approximately $3.4 million as unrestricted and available for future expenditures.
Total revenues for the city were reported at roughly $11 million, an increase of about $800,000 from the prior year attributed in part to higher property values and increased sales-tax receipts from new development. Total expenditures for fiscal year 2025 were reported at about $11.89 million, down by roughly $1 million from the prior year. The auditor calculated a net positive change in financial position of about $748,000 for the year.
The auditor also presented the independent auditors— report on internal control and compliance and said the audit identified no material weaknesses or significant deficiencies. "That's the clean, unmodified audit opinion that you're looking for," the presenter said.
Council members thanked staff for tight spending and noted the sacrifice of some personnel pay increases in the prior year as a factor in improved results. The council offered public commendation to finance staff for the work that led to stable reserves and a favorable audit opinion.
Next steps: no formal council action was recorded on the audit beyond acceptance for review and public acknowledgement; the audit will be retained in the city—s public records per normal practice.
