Were the principal statements fairly presented?
Yes, under New Jersey’s required regulatory basis. The Current, Grant, Trust, and General Capital funds received unmodified opinions.
Open the auditor’s report2025 municipal audit explorer
Read the audit by question, not by page number.
Search all 17 findings, follow the City’s promised deadlines, compare debt and deferred-charge measures, and open every figure in the official source documents.
First, separate the questions
One audit can contain a favorable opinion and serious control findings.
Did auditors find control failures?
Yes. The report lists 17 findings, including material weaknesses in financial closing and fixed-asset reporting.
Open the findings sectionWas every statement covered by an opinion?
No. Auditors disclaimed an opinion on fixed assets because the 2025 inventory was not updated and could not be audited.
Open the fixed-assets findingAbout the adverse GAAP language: the audit explains that Jersey City reports on the State’s regulatory basis rather than U.S. GAAP. That framework difference should not be read as a third operational finding.
Three different measures
These numbers sound alike. They are not interchangeable.
Deferred charges to succeeding budgets
Current Fund, payroll-clearing, and grant amounts that the regulatory statements carry for later budget funding.
Audit Note 14General Capital deferred charges to future taxation
$660.034 million funded plus $193.620 million unfunded in the capital trial balance. This is capital-financing accounting, not the Note 14 total.
Annual Financial Statement, Sheet 8Statutory net debt
$1.530 billion of gross debt less $955.430 million of statutory deductions. The filing reports net debt at 1.001% of equalized valuation.
Annual Debt Statement, page 1Do not add the three figures together. They come from different statements, serve different legal and accounting purposes, and overlap conceptually in ways a simple sum would obscure.
Search the record
All 17 findings, with the City’s planned response.
Amounts and sample exceptions are evidence from the audit. They are not prevalence estimates and should not be extrapolated beyond the tested records.
No findings match those filters.
Try a broader term or clear the filters.
Follow-through calendar
The plan is a promise. The evidence comes next.
Management’s corrective-action statements are unaudited. Completion is best evaluated through reconciliations, policies, legal conclusions, corrected records, and whether the 2026 audit repeats the issue.
- Microtransit bond-counsel opinionFinding 016
- Off-duty police receivables reconciledFinding 014
- Court documentation controls updatedFinding 017
- Budget, bond, and overtime controlsFindings 003, 004, 010
- Aged-grant cleanup targetFinding 013
- Most remaining 2026 actionsClosing, payroll, procurement, tax, revenue, and capital adjustments
- Fixed-asset rebuildFinding 002, with quarterly milestones
Official document set
Use the right filing for the question you are asking.
2025 Annual Audit
Opinions, audited regulatory-basis statements, notes, findings, samples, and recommendations.
Open the signed audit2026 Corrective Action Plan
Planned remedies, target dates, responsible officials, and management-reported completion status. Unaudited.
Open the action plan2025 Annual Debt Statement
Gross debt, statutory deductions, net debt, equalized valuation, guarantees, notes, and excluded commitments.
Open the debt statement2025 Annual Financial Statement
Trial balances, budget results, fund balance, capital accounts, grants, and supporting schedules. Not an audit opinion.
Open the financial statementNeed an earlier year?
Open the City archive The City’s Municipal Financial Reports page contains annual audits, corrective-action plans, debt statements, budgets, and annual financial statements.
Plain-language glossary
Terms that change how the numbers should be read.
- Unmodified opinion
- The statements fairly present the reported financial position and activity under the specified accounting framework.
- Regulatory basis
- New Jersey’s required municipal reporting rules. They differ from U.S. generally accepted accounting principles.
- Material weakness
- A control deficiency with a reasonable possibility that a material misstatement will not be prevented or detected on time.
- Disclaimer of opinion
- The auditor could not obtain enough evidence to express an opinion on the fixed-asset statement.
- Deferred charge
- An amount carried for funding through a later budget under New Jersey’s regulatory accounting rules.
- Finding
- A reported control, compliance, or documentation problem. A sampled exception does not establish an error rate for the full population.
Method and scope: JC Open Funds reviewed the City’s 2025 annual audit, 2026 corrective-action plan, 2025 annual debt statement, and 2025 annual financial statement. Figures are transcribed from those official documents and rounded only where labeled. The audit’s $296,788 grant-reserve figure differs by $10 from Note 14’s $296,778; the $94,124,946 total follows Note 14. Management responses and the annual filings are distinguished from the independent auditor’s opinions and findings.
Last reviewed August 14, 2026.