Charlottesville FY 2024 Financial Audit Results

Charlottesville City Council · January 28, 2025

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Meeting opening and item introduction

AnnouncementPresentation

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Mayor (role label) opened the business portion of the meeting and introduced the next agenda item: the FY24 financial audit results. The mayor noted a memo from the director of finance is displayed and that Sam would present; Mr. Cullinan was noted as expected to speak later.

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The city's finance director reported a FY24 financial audit with a clean opinion and an approximate $22.4 million surplus; the director recommended following the city's financial management policy and placing the surplus into the CIP contingency. Council members questioned whether part of the surplus reflects conservative budgeting and discussed how revenue timing affects forecasts.

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Transcript

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