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Finance staff walk council through draft 2025 ACFR; town reports $106M fund balance and $1.9B net position amid ongoing audits
Summary
Kimberly Branch (finance staff) presented the draft 2025 Annual Comprehensive Financial Report, highlighting a $106 million general fund balance (about 41% of expenditures) and a $1.9 billion net position; staff said the compliance section is still being finalized and outside audit findings will be presented to council later the same evening amid multiple ongoing reviews.
Kimberly Branch, finance staff for the Town of Cary, led council members through the draft 2025 Annual Comprehensive Financial Report (ACFR) at the Feb. 5 work session and explained how to read the 300-page document, why it matters and the schedule for finalizing it.
Branch said the ACFR is the town’s official annual financial report, prepared under generally accepted accounting principles and reviewed by independent auditors. She outlined the review timeline (books close June 30; staff draft by Oct. 31; auditors’ fieldwork in the fall) and said the town will submit the final report to the Local Government Commission by Feb. 12 once the compliance section and auditor opinion are complete.
Branch highlighted headline numbers in the draft: a reported net position of about…
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