Eagle Pass council accepts FY2025 audit; auditors report clean opinion and $5.9M surplus

The Eagle Pass City Council unanimously accepted the city’s annual financial report and an independent auditor’s clean opinion for the fiscal year ended Sept. 30, 2025, at a special meeting March 24, 2026.

Leen Carter PC auditor Mr. Carter told the council the city’s financial statements “are fairly stated in accordance with the US accounting principles,” and the audit required no findings or disagreements with management. The firm noted routine year-end adjustments (about 10 postings) and an emphasis of matter for prior-period capitalization corrections, including a $2 million adjustment to fixed assets.

The auditor highlighted key consolidated figures: total assets of $155.5 million, cash and cash equivalents of $20.3 million, total liabilities of $83.5 million and a net position of $75.1 million. Program revenues and general revenues combined produced a net increase in net position of roughly $5.9 million for the year. The auditor also reported a clean state single-audit compliance opinion for grants subject to single-audit thresholds.

Mr. Castillo, the city’s finance lead, credited finance staff and outside auditors for completing the audit on time and said the report was submitted ahead of the state’s March 30 deadline. He and council members said the on-time audit and healthy reserves should support creditworthiness and future financing discussions.

Councilman Diaz moved to accept the report; the motion carried on a unanimous voice vote. The council took no additional action beyond accepting the audit and transmitting the report as required.

The council’s acceptance concludes the formal presentation of the FY2025 audit; staff said they will circulate the full, published financial report to the council and make it available to the public.