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City of Indio audit presented; finance director reports $75.7M ending general fund balance
Summary
Finance Director Ruby Walla and auditor Frances Kuo presented the City of Indio's annual comprehensive financial report; the mayor and finance director highlighted a $75.7 million general fund balance (up $13 million) and an auditor addressed accounting estimates and disclosures. Transcript includes an apparent inconsistency in how the auditor's opinion was described in the meeting.
Ruby Walla, the city's director of finance, presented the City of Indio's annual comprehensive financial report for fiscal year 2024–25 and said the general fund reported an ending fund balance of $75,700,000, an increase of $13,000,000 from the prior year. Walla said the report, the transmittal and the MD&A are available on the city website for public preview.
Frances Kuo, the audit engagement partner, described the audit scope (including several component units and special-purpose entities) and reviewed significant accounting…
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