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City auditor issues unmodified opinion on St. Paul Park 2024 finances; highlights strong reserves
Summary
A representative from Smith Schafer presented the City of St. Paul Park27s 2024 audited financial statements to the City Council on July 21, reporting an unmodified opinion, no legal compliance exceptions and a healthy general fund reserve equal to roughly 80% of 2024 expenditures.
A representative of Smith Schafer told the City of St. Paul Park City Council on July 21 that the firm issued an "unmodified opinion" on the city's 2024 financial statements and found no legal compliance exceptions in its audit procedures. The auditor said property taxes were the largest revenue source in 2024, rising about 7% year over year and representing roughly 53% of total revenues (excluding transfers and bond proceeds). Local Government Aid (LGA) rose substantially and accounted for roughly 15% of overall revenues, the auditor said. The auditor summarized major expenditures and balances: general government spending (excluding capital…
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