City Council Meeting
February 13, 2026
FY 2024-25 Annual Comprehensive Financial Report (ACFR) and Year-End Results
ACFR Document
Introductory, Financial, Supplemental, Statistical Sections Independent Auditor’s Report, Management Discussion and Analysis, Financial, Notes, RSI 2 Overview of Document and Audit
Auditor Opinion
“In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position ……in accordance with accounting principles generally accepted in the United States of America.” Unmodified “clean” opinion for Annual Comprehensive Financial Report (ACFR) Management & Governance Letters
Audit Issues
Certificate of Achievement for Excellence in Financial Reporting
3 Overview of Document and Audit
Audit Finding - Three significant deficiencies, no material deficiencies Closing Entries – Auditor posted 22 adjusting entries
Schedule of Expenditures of Federal Awards (SEFA)
California Uniform Construction Cost Accounting Commission (CUCCAC) Auditor Recommendations –
City implement procedures to ensure closing entries are recorded timely and before the audit begins City reconcile the SEFA to the general ledger on a routine basis.
Training for all individuals involved in the procurement process.
Citywide total net position increased by $9.6 million
$12.5 million increase in net position for Governmental Activities using full accrual accounting Business-type Activities decreased $3.1 million
Citywide assets and deferred outflows exceeded liabilities and deferred inflows by $408.6 million $332.2 million is related to Governmental Activities
$76.4 million is related to Business-type Activities
$18.9 million is the unrestricted net position
4 Overview of Government Wide Results
5 Government Wide Net Position
6 FY 2024-25 Audited Actuals
7 FY 2024-25 Fund Balance/Net Position
8 FY2024-25 Balance Sheet
Governmental Funds reported combined fund balances of $51.8 million, an increase of $1.5 million Restricted $33.9
Committed $14.2
Assigned $3.5
Unassigned $0.2
$51.8 Million
9 Governmental Fund Balances
10 General Fund Results – FY 2024-25
Adopted Budget
Final Budget
Actual Amount
Revenues
$26,766,961
$27,654,970
$25,319,616
Expenditures
30,781,910
32,341,945
29,521,455
Other Financing Sources
4,044,422
4,165,422
4,081,074
Net Change in Fund Balance
29,473
(521,553)
(120,765)
11 FY 2024-25 General Fund Balances
FY 2023-24
Change in FB
FY 2024-25
GF Contingency
$8,399,184
(429,555)
$7,969,629
Other Assigned
1,079,405
414,627
1,494,032
Unassigned
2,083,402
(105,837)
1,977,565
Total
$11,561,991
($120,765)
$11,441,226
Revenues - $8.4M
Expenditures - $8.9M
Other Financing Sources - $0.2M
Change in Net Position - (0.3M)
12 FY 2024-25 American Canyon Fire Protection District
Increase in revenues compared to the prior year by 8%
Increase in expenditures compared to the prior year by 7%
Water Enterprise Funds
Revenues - $11.6M
Expenses - $ 9.4M
Contributions/Transfers – ($ 3.8M)
Change in Net Position – ($ 1.7M)
13 Enterprise Funds
Contributions/Transfers
Capacity Fees Revenue- $2.5M
Transfers out - $6.4M
$1.5m to GF for Support Services (Admin, Finance, HR)
$0.4m to GF for Legal Services
$4.5m to CIP for Benton Way, Knightsbridge Reconstruction, and Rancho Del Mar Net Position - $43.7M (Unrestricted $8.6m, Capacity $9.1, $24.2 Net investment in Capital Assets)
14 Water Enterprise Funds
15 Enterprise Funds
Wastewater Enterprise Funds
Revenues - $5.7M
Expenses - $6.5M Contributions/Transfers – ($39k) Change in Net Position – ($0.5M)
Contributions/Transfers
Capacity Fee revenues - $2M
Net Transfers out - $2M
$1.4m to GF for support services (Admin, Finance, HR)
$0.6m to CIP for Melvin Sidewalk and Rancho Del Mar
Net Position - $33.7M (Unrestricted $8.3m, $0.9m Capacity, $24.4m Net investment in capital assets
16 Sewer Enterprise Funds
17 Enterprise Funds
Recycled Water Utility
Revenues - $283k
Expenses - $1.2m
Net Transfers $230k
Change in Net Position - ($655k)
Transfers In/Out
Transfer In - $503k Fr Zero Water Footprint Fund
Transfers Out - $273k to GF support
$230k
Net Position – $777k
18 Capital Assets By Classification
Questions?