Get AI Briefings, Transcripts & Alerts on Local & National Government Meetings — Forever.
City audit shows unmodified opinion for year ending Dec. 31, 2025, city staff told council
Summary
Gordon CPA told the Valley Center City Council it issued an unmodified (clean) opinion on the city's 2025 financial statements and on the single‑audit for a federal Drinking Water State Revolving Fund grant; no auditor recommendations were reported to council.
Sean Gordon of Gordon CPA presented the independent auditor’s report for the year ended Dec. 31, 2025, and told the council the firm issued an unmodified opinion on the city’s financial statements and on the single‑audit covering a Drinking Water State Revolving Fund grant. Gordon noted the city reported just under $16,500,000 in cash on hand as of year end and described the report sections (receipts/expenditures/unencumbered cash and notes to financial statements).
Gordon said the unmodified opinion is the highest, cleanest auditor opinion and reflects well on city financial management; he added the audit included standard federal reporting and no major findings or auditor recommendations to communicate to the council. Council accepted the presentation and moved to "receive and file" the audit report without further action.
The auditor also summarized more detailed sections, including retirement program participation, long‑term debt activity and budgeted transfers. Gordon explained the single‑audit focused on the drinking water SRF grant that met the federal $750,000 threshold for single‑audit testing; the firm issued an unmodified opinion on that grant compliance as well.
