City Council

NB 2. Fiscal Year 2024/25 Financial Audit\nRecommendation(s):\nReceive audited annual financial report for the City of Lancaster, CA, Fiscal Year ending\nJune 30, 2025.\nThe City of Lancaster has recently completed its annual financial audit for the fiscal year\nending June 30, 2025. The audit was completed by CliftonLarsonAllen LLP (CLA). The\naudit involves performing procedures to obtain audit evidence about the amounts and\ndisclosures in the financial statements. These procedures include a review of internal\ncontrols, testing of transactions, and review of the financial statements for the auditors to\nexpress an opinion on the financial statements. Based on the audit, CLA expressed that the\nfinancial statements as of June 30, 2025, present fairly, in all material respects, the financial\nposition of the City of Lancaster. In addition to the financial statements, the auditors issued\nan Audit Communication Letter and a Government Auditing Standards Letter.