Albany City committee receives FY24–25 financial report; auditor issues clean opinion amid prior‑period cleanup The Audit & Fiscal Sustainability Committee received Albany City’s FY24–25 Annual Comprehensive Financial Report, which earned an unmodified opinion from the external auditor. Officials said a $482,000 prior‑period payroll clearing‑account adjustment and several one‑time items reduced the reported general fund but were described as implementation cleanups rather than ongoing deficits.

Albany City's recent financial audit revealed a clean bill of health, but concerns linger over significant prior-period adjustments and their impact on the general fund.

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Albany finance director reports unaudited FY25 surplus, GFOA award and revenue swings Finance Director Raina Schwartz reported an unaudited FY25 positive result (about $800,000), announced that Albany earned the GFOA award for FY24 reporting, and described one-time revenue gains (including a $1.7 million property transfer tax from the Belmont Village sale) and expense pressures (a $1 million net settlement, higher labor costs and IT

Albany's finance director revealed a surprising $800,000 surplus for FY25 and a prestigious GFOA award, but cautioned about the unpredictability of revenue sources.

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