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Utility audit returns unmodified opinion; council told cash reserves below historical target
2594067 · February 24, 2025
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Summary
At a liaison report, the Utility Advisory Board’s auditor presented an unmodified opinion and staff told council the utility system’s cash holdings have fallen to roughly $25,000,000—below a historical six-month target of about $45,000,000 given roughly $90,000,000 in operating expenses.
Council received a liaison report summarizing the Utility Advisory Board’s recent audit presentation. Marcy Luth of AMGL presented the audit and delivered an unmodified opinion, city staff said.
A city liaison briefed council on key…
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