In a recent government meeting, the city received a clean audit report for the fiscal year 2022, presented by Michael Gerber from Forvis. The audit revealed no significant issues, although it noted a restatement of prior years' financials due to unrecorded capital assets. Gerber emphasized the importance of the management discussion and analysis section of the comprehensive report, which provides insights into year-over-year changes.

The meeting also addressed the renewal of the city's comprehensive property and casualty insurance, which has seen a substantial 30% increase in premiums, amounting to $908,299. Risk Manager Nancy Schussler explained that this increase is reflective of broader market trends, including inflation and catastrophic losses affecting insurance rates nationwide. The city has been with Travelers for over 20 years, and despite exploring other options, no viable alternatives were found. The commission ultimately approved the renewal, acknowledging the necessity of maintaining insurance coverage despite the rising costs.

The discussions highlighted the city's proactive approach to financial management and risk assessment, with officials expressing a commitment to improving internal controls and tracking systems to prevent future discrepancies. The meeting concluded with a unanimous vote to accept the audit report and authorize the insurance renewal, underscoring the city's ongoing efforts to ensure fiscal responsibility and preparedness for potential risks.