Title
Fiscal Year (FY) 2024/25 Annual Comprehensive Financial Report (ACFR)
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FileID
File ID: 2026-00453
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Location
Location: Citywide
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Recommendation
Recommendation: Adopt a Resolution: 1) accepting the Fiscal Year (FY) 2024/25 Annual Comprehensive Financial Report (ACFR); and 2) accepting the auditor's letter to the City Council.
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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: None
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Attachments
Attachments:
1-Description/Analysis
2-Resolution
3-Exhibit A - Annual Comprehensive Financial Report
4-Exhibit B - Auditor's letter to City Council
5-FY2024/25 Auditor's Report on Internal Control Over Financial Reporting[DK1]
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Description/Analysis
IssueDetail
Issue Detail: The City's FY2024/25 Annual Comprehensive Financial Report (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...
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