AGENDA ITEM EXECUTIVE SUMMARY
ITEM TITLE*
title
FY 2025 Audit Results and FY 2026 Financial Update
presenter
RESPONSIBLE STAFF, TITLE, DEPARTMENT*
Amy Oland, Director, Business Management Department
STAFF RECOMMENDATION*
Staff recommend that Council receive FY 2025 audit results presentation from the Town’s external auditors, Mauldin & Jenkins and the FY 2025 & 2026 financial update from the Town’s Business Management Director, Amy Oland.
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ACTION/DECISION POINTS*
No Council action required.
LEGISLATIVE CONTEXT*
Under the North Carolina Administrative Code (NCAC 03 .0502), a municipality’s external auditor must present the audited financial statements to the governing body in an official meeting in open session within 45 days after submitting the audit report to the Local Government Commission. The Town’s audited financial statements were submitted on January 15, 2026. Tonight’s meeting falls within the allowed timeline.
BACKGROUND AND CONTEXT*
The Town’s Annual Comprehensive Financial Report (ACFR) for the period ended June 30, 2025 is available on the Town’s website and will be distributed to third party entities (bond rating agencies, banks, government institutions) who request this updated data annually from the Town. The ACFR is a record of the Town’s financial performance for that fiscal year and a snapshot of the Town’s fiscal condition as of June 30, 2025. The information in the Town’s ACFR provides important indicators of the Town’s financial health that are used by a variety of outside stakeholders, including investors, bond rating agencies, and state and federal agencies.
ATTACHMENTS
Draft Town of Chapel Hill FY 2025 Auditor Presentation
Draft FY 2025 Audit Results & FY 2026 Financial Update Staff Presentation
LINK: FY 2025 Annual Comprehensive Financial Report (ACFR) <https://www.chapelhillnc.gov/files/assets/town/v/1/bmd/documents/annual-fs/2024-2025-annual-comprehensive-financial-report.pdf>
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