Santa Clara's fiscal 2025 audit reports no findings; the city's finance page lists the fiscal 2023-24 audit as its latest
Squire & Company gave Santa Clara's fiscal 2025 statements an unmodified opinion and reported no material weaknesses, significant deficiencies or compliance findings. The audit was presented in a May 2026 council packet, and the city's finance page lists the fiscal 2023-24 audit as its most recent.
Continuing story: Auditing Santa Clara
Santa Clara's independent auditor reported no findings in its review of the city's fiscal 2025 finances, according to the audit report and presentation in the City Council's May 13, 2026 packet. [1]
Squire & Company's report, dated April 15, 2026, says the financial statements present fairly, in all material respects, the city's financial position as of June 30, 2025. [1]
What the auditor reported
The firm's presentation slides list "No material weaknesses noted," "No significant deficiencies noted" and "No compliance findings," and an unmodified opinion on the state compliance report. [1]
The slides report total net position of $67,720,934 at June 30, 2025, and an increase of $3,495,650 during fiscal 2025. Net position of governmental activities decreased by $1,367,007, and net position of business-type activities increased by $4,862,658. [1]
The council agenda listed the presenter as Steven Palmer of Hinton Burdick. The minutes say Hinton Burdick merged with Squire effective Jan. 1. [1][2]
Two figures for one change
The minutes of the May 13 meeting, approved May 27, say net position "stood at nearly $68,000,000 at the close of the fiscal year" and that it "had increased by just over $9,000,000 during fiscal year 2025." The auditor's slides show an increase of $3,495,650. [2][1]
The minutes also record the auditor saying the storm water fund had a net operating loss, with operating expenses exceeding operating revenues, and calling it something to continue monitoring. [2]
Where the audit is posted
As of Oct. 17, 2026, the city's finance page lists audits for fiscal 2018-19 through fiscal 2023-24. The fiscal 2025 audit appears in the May 13 council packet on the state's public notice website. [4][1]
The fiscal 2023-24 audit, by HintonBurdick and dated Nov. 12, 2024, listed no material weaknesses, no significant deficiencies, no state compliance findings and no other matters. [3]
An unmodified opinion means the auditor found the statements fairly presented; it is not a review of every expenditure.
Sources
- Santa Clara City · May 13, 2026 council packet with fiscal 2025 audit report and auditor's presentation
- Santa Clara City Council · May 13, 2026 minutes (approved May 27, 2026)
- Santa Clara City · Fiscal 2023-24 audited financial statements
- Santa Clara City · Finance department page (budgets and audits)
Reporting by The Utah Ledger from the public records above. AI-assisted, checked against those records.