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Red Oak council accepts annual audit, preserving tax-rate flexibility
Summary
The Red Oak City Council on March 30 unanimously adopted Resolution 26-015R to accept the city's Annual Comprehensive Financial Report audited by Patilio Brown and Hill LLP, securing compliance with new state filing deadlines and preserving the city's tax-rate options.
The Red Oak City Council voted unanimously March 30 to accept the city's Annual Comprehensive Financial Report (ACFR) for the fiscal year ended Sept. 30, 2025, adopting Resolution 26-015R to record the auditor's opinion and preserve the council's tax-rate flexibility under recent state law.
John Manning, audit partner with Patilio Brown and Hill LLP, told the council the firm issued an unmodified opinion on the ACFR, meaning the auditors concluded the financial statements were materially correct under generally accepted accounting principles. "We are able to offer what's called an unmodified opinion," Manning said, calling the result "a feather in the cap" for the city.
The vote followed a presentation from city staff and the…
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