City of Edinburg, EDC Receive Clean Audit Reports for Fiscal Year 2024
Staff Report
EDINBURG TX – The City of Edinburg and the Edinburg Economic Development Corporation (EDC) received clean audit reports for the fiscal year ending September 30, 2024, according to presentations delivered to the City Council by independent auditor Roel Cantu of Castañeda & Associates, PC.
During the April 1, 2025 Edinburg City Council meeting, the auditors presented the Annual Comprehensive Financial Report. Cantu announced that both the City and the EDC earned unmodified opinions—the highest rating an entity can receive—indicating that their financial statements were presented fairly in all material respects.
“This is the cleanest and most favorable opinion an entity can receive,” said Cantu. “Congratulations to the City of Edinburg and the EDC for maintaining strong financial practices.”
For the City of Edinburg, the audit found no material weaknesses in internal controls or compliance related to federal programs, though the auditor noted the limited scope of testing means some issues could potentially remain undetected. Cantu emphasized the city’s financial stability, pointing to an unassigned fund balance of $24.5 million in the General Fund—enough to cover approximately 100 days of operations based on projected FY 2025 expenditures.
“We typically recommend between 70 to 90 days of reserves, so this shows Edinburg is in a strong financial position,” he said.
Councilmembers thanked the auditors and City staff, crediting the Finance Department for addressing delays and staffing turnover that impacted last year’s audit timeline.
“Balancing a household budget is tough enough—balancing a city’s budget is a major task,” said Mayor Pro Tem Jason DeLeon and members of the council in their closing remarks. “We appreciate the hard work and dedication from the Finance team and administration.”
The Edinburg EDC audit also resulted in an unmodified opinion. The report showed the EDC held an unassigned fund balance of $11.7 million, enough to cover about 389 days of operations based on annual expenditures of nearly $11 million.
“This was a clean audit and a strong indication of the EDC’s fiscal health,” Cantu said.
Both audits reflect the City and EDC’s commitment to responsible financial management and transparency.
Source — City of Edinburg.