Auditors give Mexico City a clean opinion on 2025 financial statements

Amanda Schultz, audit partner at Williams Keepers, told the Mexico City Council the firm issued an unmodified opinion on the city's financial statements for the fiscal year ended Sept. 30, 2025, and clean single-audit reports for federally funded programs. "We issued a clean opinion and did not have any instances of noncompliance noted," Schultz said, adding that the single-audit threshold increased to $1,000,000 for the year.

The auditors also highlighted the city's continued submission of an annual comprehensive financial report (ACFR) to the Government Finance Officers Association; the city has earned the GFOA's certificate of achievement for 36 consecutive years and the auditors expected the 2025 report to receive the same recognition. Kristen Brown, audit manager, reviewed key financial metrics: total assets and deferred outflows rose by about $1.5 million (2%), liabilities and deferred inflows decreased by about $2.2 million (19%), total revenue increased $1.1 million (6%) and total expenses increased $2.0 million (14%).

Brown noted governmental funds reported a combined fund balance of $15.5 million and an increase in governmental fund balances of $1.5 million for the year. The auditors reviewed footnotes and required disclosures — capital assets, long-term debt, commitments and pension-plan participation — and reported no material corrected or uncorrected misstatements and no audit disagreements with management. The auditor's communication letter cited implementation of GASB 101 and GASB 102 for fiscal 2025 and previewed three additional standards to be evaluated in coming years.

The council thanked the audit team and staff for the report. No formal council action was required on the opinion itself; the presentation served as the auditors' required communication to the governing body.