| ITEM #: 8. DATE: 12/08/2025 AI #:2933 |
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CITY COUNCIL ACTION REPORT
| SUBJECT: | 2025 ANNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR) AND AUDIT RESULTS |
| STAFF PRESENTER(S): | Mayette Bailey, Financial Services Manager |
OTHER PRESENTER(S):
Jill Shaw CPA, Heinfeld Meech & Co. Auditor
SUMMARY
Provide City Council with an update of the Fiscal Year 2025 Annual Comprehensive Financial Report (ACFR) and audit results.
STRATEGIC PLAN ALIGNMENT
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RECOMMENDATION
Review and discuss the Fiscal Year 2025 Annual Comprehensive Financial Report (ACFR) and audit results. No action by Council is required. (Mayette Bailey, Financial Services Manager)
FISCAL IMPACT
There is no fiscal impact of accepting the ACFR and audit results.
BACKGROUND AND PREVIOUS ACTIONS
Arizona state law requires all cities to prepare annual financial statements and file them with the Auditor General. Heinfeld Meech & Co. performed an independent audit of the financial statements for fiscal year 2025. The purpose of the audit is to provide an independent, professional opinion that the city of Goodyear has fairly presented the basic financial statements, as well as supplementary information, in accordance with U.S. generally accepted accounting principles. In addition to meeting state law, the audit also helps to ensure the city’s quality controls, fiscal management, and adherence to accounting standards. The auditors have issued an unmodified “clean” opinion on the city’s financial statements.
The City of Goodyear Audit Committee, consisting of Councilmember Hampton, Councilwoman Gillis, and Councilmember Terry, reviewed these reports and other comments from the auditors on November 17, 2025. A copy of the ACFR is on file with the City Clerk’s Office and an electronic copy has been provided to the City Council and posted on the city’s website.
Staff will present the results of the Annual Comprehensive Financial Report to City Council and the independent auditor will present their findings directly to City Council and respond to any questions. This item specifically satisfies the requirements of Arizona Revised Statute 9-481 that references the auditors presenting directly to the governing body.
The City of Goodyear Audit Committee, consisting of Councilmember Hampton, Councilwoman Gillis, and Councilmember Terry, reviewed these reports and other comments from the auditors on November 17, 2025. A copy of the ACFR is on file with the City Clerk’s Office and an electronic copy has been provided to the City Council and posted on the city’s website.
Staff will present the results of the Annual Comprehensive Financial Report to City Council and the independent auditor will present their findings directly to City Council and respond to any questions. This item specifically satisfies the requirements of Arizona Revised Statute 9-481 that references the auditors presenting directly to the governing body.
STAFF ANALYSIS
The Audit Committee and Finance department staff have reviewed the ACFR and annual audit reports, included as Attachment A and found that they are in compliance with state law and city policies. They are in support of the proposed acceptance.