Focus Area: Economy Focus Area
Staff Contact: Jamie Robichaud and Lucas Mellinger
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title:
title
Report on 2025 external financial audit and Annual Comprehensive Financial Report.
Body
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recommended motion:
Acceptance of the 2025 Annual Comprehensive Financial Report, Single Audit, and Governance Letter.
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Summary:
CliftonLarsonAllen LLP (CLA) completed the City’s annual audit for the year ended December 31, 2025. The auditor will be present to briefly cover the results of the audit including the Annual Comprehensive Financial Report (ACFR), Single Audit Report and the Governance Letter.
CLA has issued an unmodified opinion of the City’s financial statements. This means that the financial statements are presented fairly in all material respects.
The auditors did note some material weaknesses and significant deficiencies on the financial statement audit for both the City and the Housing Authority and the single audit of federal programs that are discussed in the further attached documents. Management’s response with a corrective action plan on these findings is also included. The corrective action plans are underway and being implemented over the next few months.
The draft of the ACFR, Single Audit and Governance Letter were discussed with the Audit Committee on August 19, 2026. The final report is available for review and acceptance on September 1. An electronic copy of the Annual Comprehensive Financial Report and Single Audit will be made available on the City’s website.
A representative from CLA will be present at the meeting to review and answer questions regarding these reports.
The City has received the Certificate of Achievement in Financial Reporting from the Government Finance Officers Association (GFOA) for the 2024 ACFR and has submitted the 2025 report for review in this program. The City has been recognized with this award for the past 47 years and demonstrates our commitment to financial stewardship and transparency.
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Financial Information:
None
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Attachment(s):
A. Annual Comprehensive Financial Report
B. Single Audit Report
C. Governance Letter