CIT Y OF SA N BE RNARDI NO
MUNICIPAL WATER DEPARTMENT
\'\'ATER BOARD
STAFF REPORT
TO:
FROM:
Receive
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l -17
SBMW �
Genera 1 a ager
SUBJECT:
DA TE:
Miguel _I. Guerrero, P.E., General l\fanager � �
Cynthia i\louser, Director of Finance
PRESENTATION OF THE RESULTS OF THE FISCAL YEAR
2024-25 AUDIT, ANNUAL COMPREHENSIVE FINANCIAL REPORT,
AND SINGLE AUDIT REPORT ON FEDERAL AW ARDS
\l ovember 17, 2025
R.-\CKGROL'ND:
The Department contracted with Lance Soll & I ,unghard LLP (LSL) in !'\larch 2025 to conduct the annual financial audit for the Water Department's two enterprise funds, RIX, and the Department's Federal programs (Single Audit).
On November 25, 2025, Riley Greenlee, Senior manager at LSL, will present the Annual Comprehensive Financial Report (ACFR) for the City of San Bernardino l'\lunicipal \X'ater Department, covering the fiscal year that concluded on June 30, 2025, to the \X'ater Board.
The
ACFR summarizes the Department's financial activities as of that date, with LSL providing an unmodified opinion on the report. Notably, both the \X'ater and Sewer enterprise funds have reported a positiYe net income after capital contributions. A detailed overview of the Department's financial status is available in the l\fanagement Discussion and Analysis section of the ACFR, with additional insights throughout the document.
The presentation will also outline the results of the Kater and Sewer Funds, emphasizing the variances between the budget and the audit.
GO,-\LS AND OB!ECTIVES:
This proposed ACFR for _I une 30, 2025, aligns with the Department's Strategic Plan under Goal 5:
Ensure Financial I Iealth & Transparency, Subgoal #5.4 - Optimize Debt and Reserves.
FISC-\L Il'\IP.-\CT:
There will be no financial impact associated with this item.
Agenda Item
Miguel J. Guerrero, P.E., General Manager
November 17, 2025
SUBJECT: PRESENTATION OF THE RESULTS OF THE FISCAL YEAR 2024-25 AUDIT, ANNUAL COMPREHENSIVE FI ANCL\L REPORT, AND SINGLE AUDIT REPORT ON
FEDERAL AWARDS
RECOMMENDATION:
It is recommended that the Water Board make the following motion(s):
• Approve the Annual Comprehensive Financial Report and Single Audit Report on Federal Awards for the City of San Bernardino Municipal Water Department for the fiscal year ending June 30, 2025.
• Direct staff to file the Annual Comprehensive Financial Report and Single Audit on Federal Awards with the Mayor and City Council.
Respectfully submitted,
Cynthia Mouser
Director of Finance
Attachments:
• Annual Comprehensive Financial Report, Fiscal Year Ended June 30, 2025 • Single Audit Report
• Audit Communications Letter
• Report on Internal Controls
• Annual Comprehensive Financial Report PowerPoint
• LSL Audit Presentation