title
Resolution Accepting the Annual Comprehensive Financial Report for the Year Ending June 30, 2025
body
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Department: |
Finance |
Meeting Date: |
2/17/2026 |
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Contact Name: |
Michael Pirsch |
Public Hearing: |
No |
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Contact Phone: |
910-342-2771 |
Advertising Date/Advertised By: |
N/A |
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Attachments: |
Attachment #1: Resolution |
PURPOSE:
The purpose of this resolution, introduced by Mayor Pro Tem Kevin Spears, Chairperson of the Audit Committee, is to accept the Annual Comprehensive Financial Report (“ACFR”) for the year ending June 30, 2025. A copy of the ACFR was provided to Council on January 16, 2026.
BACKGROUND:
The audit of the ACFR was completed by PBMares, LLP, an independent certified public accounting firm. The audit firm issued an unmodified opinion on the financial statements, the highest level of assurance that can be rendered. Their opinion indicates that the financial statements have been prepared in conformity with generally accepted accounting principles. The Audit Committee, which also includes Councilmembers JC Lyle and David Joyner, reviewed the ACFR with the City Manager and the Finance Director at the Audit Committee's regularly scheduled meeting on January 5, 2026.
BUDGET IMPACT:
There is no impact to the budget from this resolution.
RECOMMENDATION / ACTION REQUESTED:
Passage of the attached resolution is recommended.