To: A
ndrew P. Powers, City Manager
From: Jaime Boscarino, Finance Director
Date: December 23, 2025
Subject: City of Thousand Oaks Annual Comprehensive Financial Report Fiscal Year 2024-25
Enc
losed is a copy of the City of Thousand Oaks Annual Comprehensive Financial Report (ACFR) for the Fiscal Year ended June 30, 202 5. The annual A CFR is required under Federal law as well as a recommended financial practice. This financial report shows the financial condition and operations of the City, Housing Successor Agency and Public Financing Authority.
Roger
s, Anderson, Malody & Scott, LLP (RAMS), the City's external independent auditor firm, provided an Independent Auditors' Report stating that the financial statements present fairly, in all material respects, the financial position of the City. During the audit, RAMS tested and found no weaknesses related to the City's internal control structure.
Pl
ease refer to the Letter of Transmittal, Management’s Discussion and Analysis and Notes to Basic Financial Statements, as shown on pages 4-16, pages 22-44, and pages 66-119, respectively, for a comprehensive overview of the City’s position.
Copi
es of the A CFR have also been included for each member of City Council. RAMS and City staff will be meeting with the City Council Finance/Audit Committee o n January 13, 2026, to review and discuss the Fiscal Year 2024 -25 audit results. The ACFR is a consent item on the January 13, 2026, City Council agenda for a recommendation to receive and file.
I w
ould be pleased to meet with you and individual City Councilmembers interested in a more in-depth discussion of the ACFR.
______
________________________
Jaime Boscarino
Finance Director
At
tachment
FIN:300-10\H:\COMMON\ACFLR\CAFR 2025\ACFR Distribution\Transmittal Letters\ACFR Letter to Council 2025.docx ATTACHMENT #1