Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Shakopee receives clean audit; general fund reserves remain above policy target
Summary
City auditors delivered an unmodified (clean) opinion on the 2024 financial statements and reported no findings; the general fund balance rose about $1.4 million to roughly 51% of next year’s budget, driven by investment earnings and permit revenue.
Auditors reported to the Shakopee City Council on June 3 that they issued an unmodified (clean) opinion on the city’s 2024 financial statements and identified no material weaknesses or significant deficiencies in internal control.
Bonnie Schweiger, partner with ABDO, told the council the audit also found no compliance issues in state‑mandated tests; the Minnesota compliance letter contained no findings. Finance staff said the city’s general fund reserve policy target is 35%–50% of the next year’s…
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
