To: Andr
ew P. Powers, City Manager
From: Jaime Boscarino, Finance Director
Date: December 23, 2025
Subject: City of Thousand Oaks Letter of Engagement, Audit Committee Letter and Management Letter Provided by Independent Auditor – FY 2024-25 Rogers
, Anderson, Malody & Scott, LLP, the City’s independent audit firm, has concluded their annual audit of the City’s financial statements and provided the attached Letter of Engagement, Audit Committee Letter and Management Letter to City Council for the Fiscal Year ended June 30, 2025.
The Gover
nmental Accounting Standards Board requires the independent auditor to communicate certain significant matters related to the audit to those charged with governance. The Letter of Engagement and the Audit Committee Letter describe:
1) audit objec
tives;
2) management responsibilities;
3) audit procedures - general;
4) audit procedures – internal controls;
5) audit procedures - compliance;
6) significant audit findings; and
7) other matters.
In addition t
o the Letter of Engagement and Audit Committee Letter, Rogers, Anderson, Malody & Scott, LLP provided a Management Letter to City Council for the Fiscal Year ended June 30, 2025, which is also attached. The Management Letter is another communication tool to allow the independent auditor to advise the governing board of any issues they encountered concerning the internal control structure, accounting policies, management judgments, or any difficulties with management in performing the audit.
Copies
of the Letter of Engagement, Audit Committee Letter, and Management Letter have also been included for each member of City Council. Rogers, Anderson, Malody & Scott, LLP staff and City staff will be meeting with the City Council Finance/Audit Committee on January 13, 2026, to review and discuss the Fiscal Year ended June 30, 2025, audit. Should you have questions please feel free to contact me at x2220.
______________________________
Jai
me Boscarino
Finance Director
Attachm
ents
FIN:300-10H:\COMMON\ACFLR\ACFR 2025\CAFR Distribution\Transmittal Letters\Audit Committee-Management Letter 2025.docx ATTACHMENT #3