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Kingsburg council accepts 2025 financial statements after auditor flags internal-control gaps
Summary
Price Page and Company gave the city an unmodified (clean) opinion on fiscal year 2025 financial statements, while noting four internal-control deficiencies; council accepted the statements and staff described corrective steps.
The Kingsburg City Council accepted the city—inancial statements for the year ending June 30, 2025, after an audit presentation from Price Page and Company that issued a clean (unmodified) opinion but identified four deficiencies in internal controls.
Price Page audit manager Anthony Gonzalez told the council the audit follows applicable standards and that the firm issued an unmodified opinion, meaning the financial statements "are fairly presented in all material respects." He said the audit highlighted four internal-control findings, including misclassified interfund transfers, inconsistencies in reserve-policy calculations, an allowance-for-doubtful-accounts omission related to ambulance receivables, and a developer-contributed-capital item not reported in the city's records. "We identified four deficiencies in internal controls," Gonzalez said, and noted the full details are attached to the audit report.
Finance Director Alma Colado and Gonzalez both described corrective steps. Gonzalez said auditors and staff will implement forms and procedures to prevent transfer miscategorizations and improve communication with SHARP (the third-party ambulance billing vendor) so the city can recognize allowances for doubtful accounts appropriately. Colado said the city will revisit the reserve-policy methodology with the finance committee to ensure consistent interpretation.
Council members thanked staff for transparency and asked for concrete plans. In response, staff said they will establish a transfer form, clarify reserve calculations with the finance committee, and set a process to reconcile SHARP's receivable reports each quarter. Mayor Smith moved to accept the financial statements; the motion was seconded and carried.
Votes at a glance - Motion: Accept financial statements for year ending June 30, 2025. Outcome: approved (motion carried). Recorded roll-call votes were not provided in the transcript.
The audit presentation also noted that the ambulance fund ran an operating deficit addressed by interfund transfers and federal IGT funding, and that the water fund showed an operating deficit prompting a proposed water-rate increase in the FY 2026 budget with planned annual adjustments.
