REPORT TO AUDIT COMMITTEE
SUBJECT
Title
Overview of the Single Audit Report for Fiscal Year Ended June 30, 2025
Report
BACKGROUND
City Charter Section 1319 requires that an independent certified public accountant (CPA) audit the City's records and accounts on an annual basis. In compliance with the Charter, the City engaged the audit firm of Maze & Associates to perform an independent audit of the City's financial statements.
The City's annual financial statement audit also includes the federally mandated "Single Audit" which is designed to meet the special reporting requirements of federal granting agencies, specifically Office of Management and Budget (OMB) Uniform Guidance 2.CFR.200 - Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (formerly OMB A-133). The standards governing Single Audit engagements require that agencies expending more than $750,000 in federal monies in a fiscal year have an independent audit not only on the fair presentation of the financial statements, but also on internal controls for compliance with the administrative requirements of federal awards.
DISCUSSION
The role of the Audit Committee (Committee) is to provide oversight of the City's financial reporting processes, internal controls, and independent auditors. Amy Meyer, Audit Partner, from Maze & Associates will present the audit process and scope of work, as well as the audit results to the Committee (attachment 1). In addition, City staff will be present to address questions and the results of the audit.
Attached is the Single Audit report for FY 2024-25 (attachment 2). Maze & Associates identified the Homeland Security - Staffing for Adequate Fire and Emergency Response Grant and the Justice - Public Safety Partnership and Community Policing Grant as the major programs to audit. The single audit yielded an unmodified or clean opinion. The financial statement audit also yielded an unmodified or clean opinion, howeve...
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