FY 2024/25 Annual Comprehensive Financial Report (ACFR) City Council Meeting
February 3, 2026
1 Background
City Charter Section 616 requires the City to arrange an independent audit of its financial statements each year.
The Annual Comprehensive Financial Report (ACFR) is the City’s official, audited financial report for the fiscal year ended June 30, 2025.
Represents the City’s financial position and operating results in accordance with Generally Accepted Accounting Principles (GAAP). 2 City FY 2024/25 Year-End Audit and Annual Comprehensive Financial Report (ACFR) 3 Presentation given by Auditor Jonathan Foster CPA, Partner – DavisFarr
Reports Issued
Audited Opinion
Unmodified
Communication to those in Governance
Internal Control Letter – issued in conjunction with Single Audit Report One material audit adjustment noted
In progress
Single Audit over Federal Expenditures
4 Areas of Audit Focus
Questions?