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Finance staff presents FY2024 ACFR; auditors report clean opinion and no compliance issues
Summary
The city's FY2024 annual comprehensive financial report showed roughly $1.5 billion in total assets, a $24.4 million increase in net position, and a $7.7 million general fund surplus; the independent auditor gave an unmodified opinion and cited no reportable noncompliance.
City finance staff presented the Annual Comprehensive Financial Report (ACFR) for fiscal year 2024 and auditors reported no material weaknesses. Finance presenter Mr. Zervis told council the city ended the fiscal year with about $1.5 billion in total assets, including roughly $709 million in capital assets, and liabilities near $469 million (about $60 million in bonds payable). "We ended the year with…
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