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New Iberia council accepts clean audit showing $49.3 million in revenues and improved sewer fund performance
Summary
An independent auditor presented a clean audit for the fiscal year ending Oct. 31, 2024, showing record revenues, reduced operating losses in the sewer fund, $16 million in new debt issuance and $6 million in unspent ARPA funds as of Oct. 31, 2024; the council moved to accept the report.
Brad Coler, auditor with Coler, Slaven and Company, presented the city of New Iberia’s audited financial statements for the fiscal year ending Oct. 31, 2024, and said the accounting received a clean opinion. The City Council moved to accept the audit as presented.
Coler told the council the city reported $49.3 million in total revenues for fiscal 2024, the highest in the city’s history, and described “substantial improvement” in the sewer fund, where operating losses fell from about $671,000 to $163,000 year over year. “It is a substantial improvement year over year,” Coler said.
The audit shows several one-time…
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