Independent Auditor Presentation
For Fiscal Year Ended
June 30, 2025
City of San Pablo
Whitney Crockett, CPA
Engagement Partner
1 Annual Audit
Maze and Associates – we are an independent CPA
firm, independent from the City of San Pablo and its
component units
Audit was conducted in accordance with auditing
standards generally accepted in the United States of
America and Government Auditing Standards issued by
the Comptroller General of the United States of America. 2 Results of Audit – City’s Annual
Comprehensive Financial Report
Independent Auditor’sReport
Unmodified/clean opinions…fairly stated, in all
material respects…in conformity with accounting
principles generally accepted (GAAP) in the USA.
3 Results of Audit – City
Memorandum on Internal Control (MOIC)
Three possible categories for comments:
Material Weakness (None)
Significant Deficiency (1 SD)
Other Matters (None)
4 Pooled Cash Fund 999: (1 SD)
During our FY 2025 audit, the City identified a
variance of $1,316,920 between the City’s
general checking bank reconciliation and the
aggregate general ledger cash balances by fund
as of June 30, 2025.
The discrepancy was traced to cumulative
adjustments posted to the pooled cash accounts
between 2007 and 2025
that were not
consistently reflected in the related individual
fund cash accounts.
Maze & Associates, CPAs 5
RECOMMENDATIONS:
Pooled Cash Fund 999 (1 SD)
All reconciling items including payroll-related items are reviewed, investigated, and included each month:
Both pooled cash and individual fund-level general
ledger cash accounts are incorporated into the monthly
reconciliation process; and
Reconciling items are cleared promptly once the
underlying activity is complete.
These actions will improve the accuracy and
completeness of cash balances recorded in the
general ledger.
Maze & Associates, CPAs 6
Results of Audit – City
Required Communications
New GASB, however, no material impact on FS
No unusual transactions
Significant accounting estimates
No disagreements with management
No material adjustments or uncorrected
misstatements to report
7 Financial Statements
Highlights
8 9
Statement of Net Position
FY-2024 FY-2025 Change
Totals PRIOR YEAR CURRENT YEAR INCREASE (DECREASE)
Assets $306,486,641 $309,761,126 $3,274,485
Deferred Outflows 27,381,094 22,782,945 (4,598,149)
Liabilities 134,991,241 131,937,099 (3,054,142)
Deferred Inflows 8,342,692 6,797,045 (1,545,647)
NET POSITION 190,533,802 193,809,927 3,276,125
10 FY24 vs. FY 25 Net Position
11 Net Position at 6/30 FY24 (in millions) FY25 (in millions) Change Net Investment in capital assets $125.6 $128.0 $2.4
Restricted $22.3 $36.8 $14.5
Unrestricted $42.6 $29.0 ($13.6)
Total $190.5 $193.8 $3.3
Financial Highlights – General Fund
Fund Balance $63.3M
$11.5M decrease
12 Non-
spendable
$9.7k
Restricted
$1.3M
Committed
$1.7M
Assigned
$57.3M
Unassigned
$3M
QUESTIONS?
13