Title
Fiscal Year (FY) 2024/25 Annual Comprehensive Financial Report (ACFR)
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FileID
File ID: 2026-00432
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Location
Location: Citywide
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Recommendation
Recommendation: Pass a Motion: 1) accepting the Fiscal Year (FY) 2024/25 Annual Comprehensive Financial Report (ACFR); and 2) forwarding to the City Council for approval.
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Contact
Contact: Osvaldo Lopez, Finance Manager, (916) 808-4740, olopez@cityofsacramento.org; Peter Coletto, Finance Director, (916) 808-5416, pcoletto@cityofsacramento.org; Department of Finance
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Presenter
Presenter: Osvaldo Lopez, Finance Manager, (916) 808-4740, olopez@cityofsacramento.org, Department of Finance
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Attachments
Attachments:
1-Description/Analysis
2-Resolution
3-FY2024/25 ACFR
4-FY2024/25 Auditor's Letter on ACFR
5-FY2024/25 Auditor's Report on Internal Control Over Financial Reporting
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Description/Analysis
IssueDetail
Issue Detail: The City's FY2024/25 ACFR presents the City's financial condition and the results of activities for the fiscal year that ended June 30, 2025. The independent public accounting firm Macias, Gini & O'Connell LLP has audited the ACFR financial statements, as required by the Sacramento City Charter section 117.
Overview of Report
The City prepared the ACFR to present financial information in a standard format prescribed by the Government Finance Officers Association. The ACFR is organized as follows:
* An Introductory Section with a transmittal letter summarizing economic conditions, budget initiatives and other information.
* A Financial Section which begins with Management's Discussion and Analysis (MD&A), a narrative overview, analysis of the financial statements, and comments on the City's financial outlook. The basic financial statements follow the MD&A and report the financial position and the results of the operations of the City as a whole, and the financial performance of the City's major funds. Footnotes to the financial statements are incl...
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