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Gonzales accepts FY 2024–25 audited financials; city posts small positive balance after one-time revenues
Summary
The council accepted the FY 2024–25 audited financial statements showing a clean opinion, a restored $1 million council reserve aided by a $1.2 million cell-tower sale and a roughly $400,000 one-time sales tax deposit, ending the year with about $119,000 positive operating balance.
The Gonzales City Council accepted the fiscal year 2024–25 audited financial statements and management report after a staff presentation that described a clean audit and improved financial position.
Finance staff reported that an independent certified public accounting firm issued an unmodified (clean) opinion on the city's financial statements for the year ending June 30, 2025. Auditors found no internal control disputes requiring comment in the management letter.
The finance presenter noted two material one-time items that improved the city’s position: the sale of cell-tower leases, generating about $1.2 million reserved for debt-service payments tied to the community center financing, and an additional one-time sales-tax deposit of about $400,000. Combined, these items helped restore the council reserve to $1 million and produced a positive operating fund balance of about $119,000 at fiscal year-end.
"We have a clean audit once again," the finance presenter said. "Our financial position improved within our general fund...We ended the year with a positive operating fund balance with $119,000."
Staff also highlighted a concern: one assessment district (parks) carries a negative fund balance (about $315,000) while another (street and lighting) shows a positive $145,000; combined presentation of these funds results in a negative balance of about $170,000 and will require future attention to rectify the shortfall.
Council member Liz moved to accept the audited financial statements and the management report; the motion was seconded and carried by voice vote. No member present opposed.
Staff indicated this was the finance presenter’s final audit presentation to the council and said Department of Finance review of related successor agency items is underway.
