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Santa Barbara City finance committee accepts clean audit, approves FY2025 annual financial report
Summary
The Finance Committee received an unmodified audit opinion on the city’s FY2025 Comprehensive Annual Financial Report, was told net position rose about $24 million while cash reserves continue to decline, and voted unanimously to approve the staff recommendation to accept the report.
The Santa Barbara City Finance Committee on March 10 reviewed the city’s Comprehensive Annual Financial Report for the fiscal year ending 2025 and unanimously approved the staff recommendation to accept the report.
City Finance Director Kate D. Martini introduced the report and turned the presentation over to staff and the city’s independent auditor. M C Cauley summarized government‑wide results, saying, “La posición neta aumentó aproximadamente 24000000 con respecto al año anterior,” while noting that much of that increase is restricted and not available for immediate use.
The auditor described the scope of the audit and delivered an unmodified, clean opinion. “Nuestra opinión este año es inalterada y sin modificaciones,” the auditor said, and added that no…
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