Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Cloverdale Council receives cityaudit for fiscal year 2023-24, staff urged to review deficits
Summary
The Cloverdale City Council received the independent audit of the City—s financial statements for the year ended June 30, 2024, hearing staff analysis of one-time revenue and recurring deficits and directing follow-up on rate studies and reserve policies.
The Cloverdale City Council on March 26 received the city—s independent financial audit for the fiscal year ending June 30, 2024, after a presentation by the contracted auditor and questions from council members about one-time revenue and ongoing operating deficits.
Management—s discussion and analysis presented to the council showed the city—s total net position increased by about $6.5 million in fiscal 2024, with roughly $2.1 million of that increase attributable to land and about $4.86 million attributable to one-time capital grants and contributions, staff said. Council members and staff warned those one-time amounts mask structural pressures in some enterprise funds.
The auditor, identified in the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
