HomeMy WebLinkAbout~Master - Resolution approving the Annual Comprehensive Financial Report for Fiscal Year ended June 30, 2025RESOLUTION NO. 26-078
RESOLUTION APPROVING THE ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR FISCAL YEAR ENDED JUNE 30, 2025
FOR THE CITY OF AMES, IOWA
WHEREAS, the City is required by state law to have an annual audit of its financial
statements. Eide Bailly LLP, Certified Public Accountants, has audited the City's financial
statements as of and for the year ended June 30, 2025, and expressed its opinion on
these statements based on the audit; and,
WHEREAS, in the auditor's opinion, the financial statements present fairly, in all
material respects, the respective financial position of the governmental activities, the
business-type activities, the fiduciary fund, the aggregate discretely presented
component unit, each major fund, and the aggregate remaining fund information of the
City as of June 30, 2025, and the respective changes in financial position and, where
applicable, cash flows thereof for the year then ended in accordance with accounting
principles generally accepted in the United States of America; and,
WHEREAS, there were no financial statement findings, although the report does
note that there was a related party transaction in excess of the statutory limits. Staff has
put additional measures in place and plans communicate purchasing policy provisions
across all departments; and,
WHEREAS, the auditor’s report on the financial statements is an unmodified or
“clean” opinion. There were no significant deficiencies or material audit adjustments. Also
included with the report is the Management Letter that discloses any findings, difficulties
in performing the audit, misstatements, disagreements with management, and other
issues that came up during the audit. The letter confirms that there were no other issues
to report related to the June 30, 2025 audit.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames,
Iowa, that the Annual Comprehensive Financial Report for Fiscal Year ended June 30,
2025, is hereby approved.
ADOPTED THIS 10th day of February, 2026.
_______________________________ _________________________________
Renee Hall, City Clerk John A. Haila, Mayor
Introduced by: Gartin
Seconded by: Betcher
Voting aye: Beatty-Hansen, Betcher, Corrieri, Junck, Gartin, Rollins
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 10th day of February, 2026.