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City auditors issue clean opinion on FY2025 financial statements; one significant deficiency noted
Summary
External auditors issued an unmodified (clean) opinion on Brownsville's FY2025 financial statements and on compliance for major federal and state programs. Auditors reported one significant deficiency related to prior‑period capital asset recording and recommended corrective actions.
Carreon & Ingram partner Matthew Monttoyote presented the city's FY2025 audit, reporting an unmodified ("clean") opinion on the primary government's financial statements and an unmodified opinion on compliance for major federal and state award programs. Monttoyote said total assets rose in 2025 driven by bond proceeds and capital projects, liabilities increased primarily due to new debt issuances, and net position ended the year higher than the prior year.
The auditors identified one significant deficiency in internal control related to unrecorded capital assets that required a prior‑period adjustment; management provided a corrective action plan. The auditor noted no material weaknesses in internal control and no material noncompliance findings in the single audit of federal/state awards.
Commission acknowledged the audit; staff said the report meets new state requirements (Senate Bill 1851) for timely audit delivery.
Next steps: staff to proceed with management's corrective actions and present routine updates to the audit oversight committee.
