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Council accepts clean FY2024 audit and authorizes issuance of 2025 tax notes; staff recommends Webster Bank bid
Summary
Council accepted the City of Manor’s FY2024 annual financial report with a clean (unmodified) opinion and approved an ordinance authorizing issuance of series 2025 tax notes. Staff recommended accepting Webster Bank’s bid as the lowest overall cost without a premium call date.
The Manor City Council accepted the city’s annual financial report and independent auditors’ report for the fiscal year ended Sept. 30, 2024; the auditors issued an unmodified (clean) opinion.
Jeremy Myers of Ashley & Associates, the city’s audit partner, summarized key points: net assets increased (driven in part by bond issuances), capital-asset additions were substantial (an increase of roughly $36 million reported…
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