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City auditor issues clean FY2025 opinion; Temple posts $25.5 million increase in net position
Summary
Independent auditors issued a clean (unmodified) opinion on Temple’s FY2025 financials, reporting a $25.5 million increase in net position, $32.8 million unassigned general‑fund balance and $450.5 million in net capital assets.
The city’s independent auditor presented the annual comprehensive financial report for fiscal year 2025 to the Temple City Council on March 19 and issued an unmodified (clean) opinion with no material weaknesses or significant deficiencies.
Daniel Jones, CPA and partner at Brockway, Gersbach, Franklin & Niemeyer PC, told the council the audit team verified roughly $1.7 billion in assets and tested about $330 million in revenue and $280 million in operating expenses. Jones highlighted that the city recorded a $25.5 million increase in net position for FY2025 and that the unassigned general‑fund balance is about $32.8 million, roughly 2.75 months of operating expenditures.
Key figures from the FY2025 presentation: - Net capital assets: about $450.51 million. - General‑fund unassigned balance: $32.8 million (2.75 months of expenditures). - Property tax revenue: about $53.4 million (up ~8.5%). - Bonds issued: over $200 million in FY2025, with an economic gain from refunding bonds of about $2.5 million.
Jones said the audit includes a single audit for federally funded programs because the city exceeded the federal‑expenditure threshold; the city reported about $9.8 million in federal grants and nearly $1 million in state grants for the year. He noted no material weaknesses or significant deficiencies were found.
What it means: City officials said the financial position is healthy with steady growth in revenue tied to population and development. Council members used the presentation to ask about rainy‑day (restricted) funds and how Temple’s reserves compare with other municipalities; the auditor said many cities target a fund balance equal to three months of expenditures and that Temple’s 2.75 months is in a healthy range.
Follow up: The council accepted the FY2025 audit presentation. The audit will be published with the city’s annual comprehensive financial report as required under the city charter and state reporting rules.
Quote: “Our opinion is unmodified,” Daniel Jones said during his presentation, summarizing the audit’s main conclusion.
Outcome: Council received the FY2025 audit during the March 19 meeting; no formal vote was required beyond receiving the report.
