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2025-001—State of California: Financial Report Year Ended June 30, 2025

Published: May 12, 2026Report Number: 2025-001

May 12, 2026
2025-001

The Governor of California
President pro Tempore of the Senate
Speaker of the Assembly
State Capitol
Sacramento, California 95814

Dear Governor and Legislative Leaders:

In accordance with Government Code section 8546.4, which requires the California State Auditor’s Office to annually issue an auditor’s report on the State of California’s basic financial statements, we have issued audit opinions on the State of California’s basic financial statements for the fiscal year ended June 30, 2025. Our Independent Auditor’s Report appears on page 2 of the Annual Comprehensive Financial Report for fiscal year 2024–25 located on the California State Controller’s Office website at https://www.sco.ca.gov/Files-ARD/ACFR/acfr25web.pdf.

We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States of America.

Respectfully submitted,

LINUS LI, CPA
Deputy State Auditor

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