The Oklahoma City Employee Retirement System Board of Trustees on Nov. 13 approved the system's audited financial statements for the fiscal year ended June 30, 2024, after hearing a presentation from OSERS accountant Deborah Dutti.

Dutti told trustees the auditors issued an unqualified opinion and that the system's fiduciary net position stood at $883,100,000, an increase of $40,900,000 from the prior year. She said total contributions were $19,300,000 and net investment income was $71,700,000; benefit payments totaled $48,100,000.

"Overall, the system's financial position improved during the fiscal year 2024," Dutti said, adding that the auditors completed their work on Sept. 5, 2025 and issued an unqualified (clean) opinion. She also flagged an audit finding on page 99 of the packet tied to a census-data error during the transition to new software and said management has taken steps to prevent a recurrence.

Trustees moved and seconded approval of the report and conducted a roll-call vote. Trustees Madera, Nichols, McSpadden, Weller, Thurman and Chairman Bronson each voted "Aye," and the motion carried.

The board's packet includes the full auditor opinion and notes that the funded ratio edged down slightly from 91.88% to 91.34% due to an increase in total pension liability; Dutti characterized the overall position as strong despite the small change. The board recorded the approval and moved on to the next items on the agenda.