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Auditors issue clean opinion on Highland Village's 2024-25 financials; general fund balance about $12 million
Summary
Auditors from Pattillo Brown & Hill told the Highland Village City Council they rendered an unmodified (clean) opinion on the city's fiscal 2024-25 financial statements and highlighted a general fund balance of nearly $12 million, an increase of roughly $280,000 year-over-year.
Paula Brown, audit partner at Pattillo Brown & Hill, presented the annual comprehensive financial report and told the council the audit produced an unmodified opinion. "We were rendered an unmodified opinion," Brown said, describing that result as the highest mark auditors can provide.
Brown summarized key numbers in the report: the general fund fund balance at year-end was almost $12,000,000, an increase of about $280,000 from the prior year, which she said represents slightly less than 50% of the city's general fund expenditures (roughly six months of reserves). She also noted positive net position in the water and wastewater proprietary funds and said auditors found no material misstatements or reportable compliance findings in the audit and the accompanying communication letter.
The presentation gave council members a snapshot of the city's fiscal position heading into budget season; Brown said the materials in the packet include the independent auditor's report and a required-communications letter. Council members thanked finance staff for their work completing the audit during a period of staffing transition.
