Auditor delivers clean opinion on city financial statements; net position and general fund strong

An external audit partner from Brown Armstrong presented the city’s audited financial statements and ancillary reports and delivered an unmodified (clean) opinion.

The auditor highlighted a total net position of $765.8 million (up roughly $40.9 million from the prior year), total revenues of $182.3 million, and expenses of $141.5 million. The general fund balance was reported at approximately $84.0 million, well above the budgeted projection cited in the packet. The auditor said the favorable variance was largely attributable to long‑term debt proceeds and noted government‑wide net‑position gains across both governmental and business‑type activities.

The auditor reported no material weaknesses or significant deficiencies in internal control and said prior year findings have been resolved. Ancillary reports — including the single audit for federal grants and component‑unit reports — were also issued with unmodified opinions; one minor noncompliance finding stemmed from a late filing of a specified report but did not affect the audit opinion.

Council thanked the finance team for progress in bringing audits up to date and accepted the audit presentation per the agenda action.