Audit Reports
State Audit Confirms Fairfax’s Full Compliance With Transportation Funding Requirements
The California State Controller’s Office (SCO) has released its audit of the Town of Fairfax’s state transportation funds for the fiscal year ending June 30, 2024. The Town received a clean audit, confirming full compliance with all state laws and financial reporting requirements.
Key Findings
- All expenditures from the Special Gas Tax Street Fund and Road Maintenance and Rehabilitation Program (RMRP) were properly accounted for and used on eligible street and road projects.
- The Town met all Senate Bill 1 (SB 1) maintenance-of-effort requirements.
- Total audited expenditures: $405,000
- Ending fund balance: $188,842
- No errors or exceptions were identified.
Additional Review
As part of its audit, the SCO also completed a historical reconciliation of the Town’s Special Gas Tax Street Fund balances from 2003–2024, confirming that fund balances were accurately carried forward year over year.
Audited Financial Statements
In the fall of each year, the Town undergoes an audit of its financial statements to ensure compliance with government accounting standards and best practices.
The Town contracts with Maze & Associates to complete our annual audit. The fiscal year is from July 1 to June 30.