City of Rialto
Financial audit
For fiscal year ending June 30,2025
Council meeting
April 28,2026
2 Agenda
City of RialtoFY 2024-2025 FINANCIAL AUDIT
Scope of Engagement
Results of Audit
Conclusion
3 Scope of Audit Engagement
City of RialtoFY 2024-2025 FINANCIAL AUDIT
Auditing firm The Pun Group, LLP was engaged by the City to perform a financial statement review for fiscal year ending June 30, 2025, in accordance with generally accepted auditing standards The auditing firm had no disagreement with management in terms audit procedures or significant difficulties with the audit
4 Results of Audit
City of RialtoFY 2024-2025 FINANCIAL AUDIT
Unmodified Auditors’ Opinion
Financial Statements are fairly presented in all material respects Significant accounting policies have been consistently applied Estimates are reasonable
Disclosures are properly reflected in the financial statements Report on Internal Control and Compliance
2025-001 - Internal Control over Financial Reporting – Financial Review, Deficit Net Position/Fund Balances, Fund Classification, and Restatement due to Error Corrections Deficiencies were related to timing and corrections of prior year activity 2025-002 – Internal Control and Compliance over Human Resources Processing Deficiencies related to inconsistencies in the preparation, review, and processing of Personnel Action Forms (PAFs)
5 Conclusion
City of RialtoFY 2024-2025 FINANCIAL AUDIT
City’s Financial Statement results are presented as follows:
Reasonable and in compliance with accounting principals No fraud of abuse
The financial statements accurately represent the financial condition of the City