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Schenectady council accepts 2024 audit showing mixed fund results
Summary
Schenectady City Council committee reviewed and approved the city's 2024 audited financial statements, which showed mixed results across funds, federal single-audit requirements and several recommended follow-ups from auditors.
Schenectady City Council committee members on June 16 accepted the city’s 2024 audited financial statements after a presentation by the city’s external auditors.
John Talfaske, auditor with Cusack & Company, CPAs, told the council the audit’s primary purpose is “to issue an opinion on your financial statements as to whether they're materially stated and whether they're in compliance with generally accepted accounting principles.”
The audit’s key figures included a general fund balance of $18,900,000 with $6,600,000 restricted; a reported water fund deficit of…
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