City of Alexandria, Virginia
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MEMORANDUM
DATE: NOVEMBER 18, 2025
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
THROUGH: JAMES F. PARAJON, CITY MANAGER
FROM: KEVIN C. GREENLIEF, DIRECTOR OF FINANCE
DOCKET TITLE:
TITLE
Receipt of the Fiscal Year 2025 Annual Comprehensive Financial Report.
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ISSUE: Consideration is requested of the Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2025.
RECOMMENDATION: That City Council receive the Fiscal Year 2025 Annual Comprehensive Financial Report (Attachment 1).
DISCUSSION: Code of Virginia ?15.2-2511 requires all local governments to have their accounting books and records audited by an independent certified public accountant as of June 30 of each year. The Code further requires that the independent certified public accountant present a written report to the local governing body at a public session by the following December 31.
The City's Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2025 follows a format prescribed by the Governmental Accounting Standards Board (GASB) and includes a description of the significant financial events of the fiscal year, the City's audited financial statements, and selected financial and demographic information. The City's ACFR is in its final stages of review and completion with the City's external auditors, and the final report will be posted on the City's website at https://www.alexandriava.gov/FinancialReports. There may be immaterial changes from the numbers reflected in this memorandum and in the attached draft ACFR once the report is finalized.
The City expects to again receive a positive "clean opinion" from its independent certified public accountant firm, CliftonLarsonAllen, LLP, of its financial statements for the fiscal year ended June 30, 2025. The auditors are in the final stages of review and the City expect...
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