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Item No. 10 <br />Memorandum <br />TO: Mayor, Mayor Pro -Tem, and City Council <br />Rose Beverly, City Manager <br />FROM: Steve Marriott, Finance Director <br />SUBJECT: ANNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR) <br />FISCAL YEAR ENDING SEPTEMBER 30, 2025 <br />DATE: April 13, 2026 <br />BACKGROUND: Article III Paragraph 33 of the Paris City Charter requires the City of Paris to <br />have an annual audit prepared by an independent Certified Public Accountant. Our practice is to <br />provide the Council with a copy of the report when it is completed. <br />STATUS OF ISSUE: This report provides the City Council with the City' s audited financial <br />condition and reports on the City' s financial activities for the year ending September 30, 2025. <br />The City received the desired " unmodified" opinion on the financial statements which means the <br />auditors believe that the financial statements present fairly the financial position of the City <br />without the need to qualify their professional opinion in any way. <br />BUDGET: N/A <br />RECOMMENDATION: No action is required by the Council as the governing body is just <br />receiving this report. <br />