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Council accepts FY2025 audit showing clean opinion and stronger net position
Summary
City auditors gave Rosenberg an unmodified ("clean") opinion for fiscal year 2025; the council accepted the annual comprehensive financial report after a presentation that highlighted increased net position, reduced long-term liabilities and a stronger general fund balance.
Lewis introduced the annual comprehensive financial report and the auditor from Whitley Penn, who presented the results. Lupe Garcia said the firm had "expressed an unmodified opinion on the city's financial statements for fiscal year 2025," and reported that total assets and deferred outflows were $443,400,000, total liabilities and deferred inflows were $151,800,000, and the city's net position was $291,600,000 at year-end.
Garcia told the council that long-term liabilities decreased from $132,700,000 to $122,900,000 after principal payments and that the general fund reported $39,800,000 in revenue — $1.4 million above budget projections — with an ending general fund balance of $23,000,000, representing about 60% of fund operating expenditures, exceeding the city's 25% policy. After a short period for questions, a councilor moved to accept the report and the motion passed. Staff will file the accepted report as the city's FY2025 audited financial statements.
