Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the City Finances Audit topic
No spam. Unsubscribe anytime.
Waterville posts solid 2024 results; auditor issues clean opinion for 2023 audit
Summary
City staff presented a fourth-quarter 2024 budget report and a treasurer highlighted a clean audit opinion for the 2023 fiscal year; council heard revenue and expenditure details and that American Rescue Plan Act funds have been spent or encumbered.
City finance staff reported on the fourth‑quarter 2024 budget and the city’s most recent audit during the Feb. 24 Waterville City Council meeting.
Municipal staff presented the 2024 fourth‑quarter budget report, which staff said reviewed actual revenues and expenditures for the period Jan. 1-Dec. 31, 2024. The report showed the city collected stronger-than-expected income tax receipts and closed the year with positive cash results. City staff said it brought in $5,201,970 in income tax collections in 2024 and that the 2024 general fund balance ended the year at approximately $5,985,442.
The finance presentation included grant and capital items: a $657,382 grant received in 2024 related to capital activity, a $90,000 TARTA grant, and a $13,239 vest grant for the police department. Staff noted some 2024 grant reimbursements were received in 2025 and that overall revenues and expenditures left the city with a surplus for the year.
The city treasurer summarized the audit released by the Ohio Auditor of State for fiscal year 2023, which the treasurer described as a "clean opinion." The treasurer told council auditors found no material weaknesses in internal control and no instances of noncompliance discovered in their testing. The treasurer also noted there were no management letter comments in the audit.
Council members at the finance committee and full council praised staff for fiscal oversight and asked clarifying procedural questions about the timing of a planned Lucas County auditor outreach on property revaluation (the Lucas County auditor will hold a public session in the council chambers on March 26, noon–7 p.m.). Staff noted the deadline to file with the board of revision is March 31.
Ending: Council accepted the reports as informational. Staff said they will bring any outstanding budget or grant follow-up items to future meetings.
