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Chino receives clean audit; council adopts midyear budget adjustments with $1.8M projected surplus
Summary
External auditors issued an unmodified opinion on Chino’s FY 2024‑25 financial statements; the council received the audit, heard about a significant deficiency related to prior restatements, and unanimously approved midyear budget adjustments that leave a projected $1.8 million surplus at June 30, 2026.
The City of Chino presented its annual comprehensive financial report for the fiscal year ended June 30, 2025, receiving an unmodified (clean) opinion from independent auditors and council approval to adopt midyear budget adjustments for FY25‑26.
Ahmed Badawi, the audit partner from Badawi & Associates, told the council the firm issued a clean opinion, stating, "we have issued an unmodified opinion," and summarized audit scope, risks and results. The audit identified standard areas of higher risk — management override, revenue recognition and…
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