Warrenton auditors give city an unmodified opinion; long‑term debts fell about $4 million

Alan Schulte of UHY presented the audit of the city of Warrenton for the year ending Dec. 31, 2024, and said the firm "issued an unmodified or clean opinion," meaning the financial statements are, in his words, "fairly stated in accordance with GAAP." Schulte told the Board that long‑term debt showed the largest variance from the prior year, with an "almost $4,000,000 decrease in the outstanding debt." He said roughly $3,000,000 of that decrease came from scheduled payments on interchange and sidewalk loans and about $600,000 represented a TIF payment.

Schulte noted that some of the debt (interchange and certain TIF obligations) do not carry associated city assets and are serviced by dedicated tax resources rather than the general fund. He told aldermen that, when those dedicated items are considered, the city's position is stronger and that he saw "no issues going forward in paying that off." He also highlighted that the water and sewer fund showed increased charges for service, largely due to higher industrial sewer usage and new connections, and that fund liabilities were reduced by about $500,000 in principal payments.

On pensions, Schulte said the city participates in LAGERS and that the net pension liability remained in the roughly $1.0–$1.3 million range, noting the system was about 72% funded and that returns in recent years have lagged actuarial assumptions. He cautioned that pension measures include long‑term estimates provided by actuaries.

After the presentation the board voted to approve the audit results for the period ending Dec. 31, 2024; the roll call vote was recorded 6‑0 in favor. No management weaknesses were identified in the auditors' management letter presented at the meeting.