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San Buenaventura receives clean FY25 audit; council hears $26M general-fund drawdown
Summary
City staff presented an unmodified (clean) audit opinion for FY24–25 and a comprehensive financial report showing a net position increase to $362M but a $26.4M reduction in the general fund largely tied to one-time expenditures; council voted to receive and file the reports.
San Buenaventura’s finance leaders reported a clean independent audit for the fiscal year ended June 30, 2025, while explaining a one-year drop in the general fund driven largely by planned, multi-year project spending and a discretionary CalPERS payment.
Chief Financial Officer Greg Moley and Accounting Manager Jason Williams told the council the auditor issued an unmodified opinion and found no material weaknesses in internal controls. “In the auditor’s opinion the financial statements are materially correct and free from misstatement,” Williams said, adding that government-wide net position…
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