Summary:
By state law, the audit must be presented to the Council and received as a Regular Agenda item and not a Consent Agenda item. Joshua Jumper, Audit Partner with the auditing firm of Heinfeld, Meech & Co. will make the presentation along with Chief Financial Officer Sean Kindell.
Annual Comprehensive Financial Report (ACFR)
We are pleased to submit to you the ACFR for fiscal year ended June 30, 2025. This report is prepared annually by the Finance Department and includes basic financial statements, combining fund financial statements, footnotes, and other supplementary information. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America as prescribed by the Governmental Accounting Standards Board (GASB).
The financial statements were audited by an independent firm of Certified Public Accountants, Heinfeld, Meech & Co., whose report is included within. The City received a clean audit opinion with no material misstatements. The audit satisfies Article VI, Section 7, of the City Charter, which requires an annual audit of all accounts of the City by an independent certified public accountant.
Single Audit Report
All non-Federal entities that expend $750,000 or more of Federal awards in a year are required to obtain an annual audit in accordance with the Single Audit Act Amendments of 1996, OMB Uniform Guidance Subpart F, and Government Auditing Standards. The standards governing Single Audit engagements require the independent auditor to provide a separately issued Single Audit Report on the government’s internal controls and compliance with legal requirements having a direct and material impact on major programs, with special emphasis on internal controls and compliance requirements involving the administration of major federal awards. The City received a clean single audit report with no material noncompliance and no significant deficiencies.
The Single Audit Report is filed with the Federal Audit Clearinghouse.
Auditor Communication to Governance Letter
Additionally, the auditors are required by professional standards to communicate certain information to “those charged with governance”. The attached Communication to Governance is that communication. This letter: 1) communicates the responsibilities of the auditors and the City; 2) discusses the audit process; and 3) discusses any issues that may have arisen during the audit or as a result of the audit. There were no material issues that arose during the audit or as a result of the audit.