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Auditors give Granbury a clean FY2025 opinion; city staff highlight healthy fund balances
Summary
Patillo Brown & Hill issued an unmodified opinion on Granbury—ity—inancial statements for fiscal year 2025, reporting no material control weaknesses; staff said the general fund and utility fund show healthy balances, and auditors noted about $1.3 million in federal awards were tested.
Granbury—ity officials presented the city—ouncil with the annual comprehensive financial report for fiscal year 2025 and the outside auditors delivered an unmodified (clean) opinion.
"In our opinion, the accompanying financial statements present fairly in all material respects," Cameron Erin of Patillo Brown & Hill told the council during the March 17 presentation. The auditors said they found no material weaknesses in internal controls related to the city—inancial statements or to specific federal grant testing.
City staff and the audit firm briefed council on several figures in the report. Auditors said the city had roughly $1.3 million in federal funds subject to testing in the year, including about $1.2 million tied to drinking-water state revolving funds. The auditors summarized the major fund statements and said the general fund—nded the year with higher fund balance, citing transfers and one-time items as reasons for the increase.
Finance staff referenced line items in the report, noting about $5 million in property-tax receipts and other taxes described in the report; auditors and staff explained that general-fund expenditures for the year were in the mid-20-million-dollar range while the reported fund balance provides roughly 10 months of coverage under the standard months-of-expenditure metric auditors described as a healthy position.
The audit presentation also reviewed enterprise funds. The auditors said the city—reditors and bondholders can rely on the statements and highlighted that the utility (enterprise) fund shows substantial net investment in capital assets, with most equity tied to long-term capital assets and roughly $10 million characterized as unrestricted balance the city may use for operations or future projects.
Council asked staff clarifying questions about draft-to-final changes in the published book and about grant compliance; staff said corrections had been made in the final printed copy and that the audit is an informational presentation with no council action required.
The city posted the comprehensive annual financial report and audit deliverables to the municipal website and distributed required compliance materials, the auditors said. No adverse findings or modifications were reported.
