COUNCIL COMMUNICATION
TO: Honorable Mayor and Council
FROM: Jill Olsen, Administrative Services Director
SUBJECT:Title
Discussion and Action: Presentation from CliftonLarsonAllen LLP on the Fiscal Year 2025 Audit Results and Any Findings (Trinna Ware)
Body
FUNDING SOURCE:
N/A
PURPOSE:
In accordance with Arizona Revised Statutes § 9-481, CliftonLarsonAllen LLP will present the Fiscal Year 2025 audit results and any findings to the City Council during a regular meeting.
BACKGROUND:
The financial statement audit examines the City’s financial statements and internal control procedures to ensure compliance with generally accepted accounting principles (GAAP). The independent auditor reviews and tests the City’s financial records to confirm that the statements accurately reflect the City’s financial condition. The auditor provides an opinion with reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error, and are fairly presented in accordance with GAAP.
A full copy of the Fiscal Year 2025 Annual Comprehensive Financial Report is available in the City Clerk’s Office and can be viewed on the City’s website: <https://www.lhcaz.gov/docs/default-source/department-documents/annual-comprehensive-financial-report-2025.pdf?sfvrsn=74a5527d_3>
COMMUNITY IMPACT:
Provides assurance to the community that public funds are properly recorded and managed.
FISCAL IMPACT:
N/A
ATTACHMENTS:
Hyperlink: Fiscal Year 2025 Annual Comprehensive Financial Report (copy of Report available in the City Clerk’s Office and can be viewed on the City’s website: <https://www.lhcaz.gov/docs/default-source/department-documents/annual-comprehensive-financial-report-2025.pdf?sfvrsn=74a5527d_3>)
Highway User Revenue Fund (HURF) Audit Report - Fiscal Year 2025
Financial Audit Report - Fiscal Year 2025
SUGGESTED MOTION:Recommended.action
I move to accept Lake Havasu City’s audited annual financial report and audit results for the fiscal year ending June 30, 2025.