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Mayville auditors report improved fund balance, note remaining internal-control items
Summary
External auditors told the Mayville Common Council the city's general fund balance rose to about $1.2 million and the city had no material audit adjustments for 2024, while flagging ongoing segregation-of-duty and review issues.
John Raider, an external auditor, presented the City of Mayville's 2024 annual audit at the Mayville Common Council meeting, saying the audit contained no material adjustments and that the city's financial condition has improved.
The auditors said the city's unassigned general-fund balance climbed to roughly $1,200,000 from about $647,000 the prior year, driven by higher-than-budgeted revenues (about $330,000, mostly investment income) and lower-than-budgeted expenditures (about $200,000). "This is mostly a good report this year," Raider said.
The auditors emphasized why the numbers matter: a larger unassigned…
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