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Finance director: FY2025 audit clean; general fund up and infrastructure investments made
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Summary
Finance Director Dina Hield reported an unmodified (clean) audit for FY2025, a $1.9 million increase in the general fund balance, $17.5 million in unassigned funds, and more than $90 million in city assets; Measure Y funds supported roughly $4.5 million in infrastructure investments.
The Big Bear Lake City Council received an abbreviated presentation of the Fiscal Year 2025 Annual Comprehensive Financial Report (ACFR) from Finance Director Dina Hield, who said the city’s audited financial statements earned an unmodified (clean) opinion and showed modest positive variance between budgeted and actual results.
Hield summarized key figures: roughly $25,000,000 in general fund revenue for the jurisdiction; a $1.9 million increase in fund balance for the fiscal year ended June 30, 2025; $17.5 million in unassigned fund balance consistent with the city’s policy; and more than $90 million in invested city assets. She said Measure Y funds included approximately $4.5 million invested in infrastructure projects, calling out Summit Boulevard rehabilitation, land acquisitions, and Castle Rock Trailhead improvements as recent projects supported by that fund.
The external audit, conducted by LSL CPAs and reviewed with the audit committee (Mayor Pro Tem Segovia and Council Member Hicks), found no material weaknesses, no significant deficiencies and no noncompliance items. Hield noted the report is available on the city website and that staff will return with planned updates to the fund balance policy during the budget cycle.
Council members had an opportunity for questions but did not raise substantive objections; the presentation concluded with staff offering to follow up on any detailed requests. The ACFR and related materials will be posted on the city’s website for public review.
