Grimes receives clean audit for fiscal year 2025, auditor says

The Grimes City Council heard a presentation of the city’s FY2025 independent audit on Tuesday, and the auditor reported a clean, or unmodified, opinion on the city’s cash-basis financial statements.

"We are issuing what we call a clean or unmodified opinion on the financial statements," said Robert Dendris, a partner at Demond CPA, who presented the audit and said the audit work found no internal control weaknesses and no instances of noncompliance with state requirements.

Dendris summarized the cash-basis results: total cash-basis revenue of $72.5 million in the fiscal year, expenditures roughly $70 million, and a net positive change in cash basis net position of about $2.6 million. He noted that the city reports on a cash basis, meaning payables, accruals and long-term debt do not appear in the statements as they would under full-accrual accounting.

The auditor also pointed council members to long-term obligations disclosed in the notes: approximately $92.6 million of general obligation bonds and about $45 million of revenue bonds outstanding at year end. Dendris highlighted the general fund’s liquidity—about 219 days on hand—calling it a "very healthy fund balance" for a city of Grimes’s size.

Council members thanked staff and the audit team; no questions were pursued beyond the presentation. The report and the auditor’s governance letter contained no recommendations requiring formal corrective action, the auditor said.

Council took no formal vote on the audit presentation beyond accepting the report into the record; staff will post the audited financial statements and related disclosures for public review.