In the heart of Lemoore's city hall, council members gathered to discuss the city's financial health, a topic that resonates deeply with residents and local businesses alike. The recent audit report, presented during the City Council meeting on May 6, 2025, revealed a clean bill of financial health for the city, with an unqualified opinion confirming that the city's financial records adhere to generally accepted accounting principles.

The audit highlighted that Lemoore's total net position stands at approximately $169.7 million, a figure that reflects the city's assets and liabilities. The general fund, which plays a crucial role in funding public services, reported a total fund balance of over $15.2 million. However, it also noted a net decrease of $2.4 million in the fund balance for the fiscal year ending June 30, 2024. Of this balance, $13.4 million remains unassigned, indicating that it is available for future use without restrictions.

Significant changes in financial reporting were introduced this year due to the implementation of GASB 100, which affected how funds are classified. This adjustment aims to enhance clarity in financial statements, ensuring that stakeholders can better understand the city's financial position.

The council also reviewed the performance of the city's enterprise funds, which operate on user charges. The water fund reported an operating income of over $3.3 million, while the sewer and refuse funds contributed $190,000 and $923,000, respectively. These figures underscore the city's ability to manage its resources effectively.

A key point of discussion was the city's pension liability, currently estimated at over $18.7 million based on actuarial studies from CalPERS. The council confirmed that the city is meeting its required contributions, ensuring compliance with pension obligations.

As the meeting progressed, council members engaged in a dialogue about the golf course's financial performance, which operates as an enterprise fund. Questions arose regarding revenue sources and operational activity, reflecting the council's commitment to transparency and fiscal responsibility.

In closing, the audit report not only reassured council members of the city's sound financial footing but also highlighted the diligent work of city staff in navigating complex financial regulations. As Lemoore looks to the future, the council's focus on maintaining financial integrity will be crucial in fostering community trust and supporting local initiatives.