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Council accepts FY2024 audited financial report; ordinance barring dual officeholders adopted
Summary
External auditors presented an unmodified opinion on the City of Wasilla’s FY2024 financial statements and single audit; the council accepted the comprehensive annual financial report and adopted Ordinance Serial No. 25‑03 to bar simultaneous holding of certain public offices.
The Wasilla City Council accepted the city’s Fiscal Year 2024 annual comprehensive financial report on Feb. 17 after BDO auditors delivered an unmodified opinion and a single‑audit report with no compliance findings.
Joy Mariner, lead engagement partner for BDO USA LLP, told the council the audit produced a clean (unmodified) opinion and noted no findings under Government Auditing Standards or the uniform single‑audit requirements. She also told members the city’s financial reporting likely qualifies for the Government Finance Officers Association’s certificate of achievement.
“An unmodified opinion” was the auditors’ conclusion, Mariner said, and she praised the finance staff’s responsiveness during the audit. Cassie Olin, Wasilla’s director of finance, participated in the presentation and answered follow‑up questions from council members.
Why the audit matters The audit provides independent assurance about the accuracy of the city’s financial statements, important for fiscal transparency, grant compliance and capital planning. Auditors highlighted strong cash and investment levels and noted that enterprise funds (water, sewer, airport, sports center) were cash negative on operations, a point auditors urged the council to consider for future rate and capital planning.
Council action on audit and related finance items Council member Stu Graham moved to accept DM No. 25‑03, the FY2024 annual comprehensive financial report, and Council member Cottle seconded. The motion passed without objection; no roll‑call tally was recorded in the transcript. During the finance discussion, councilors asked about a sales‑tax penalty waiver shown in the quarterly reports. Cassie Olin explained the city’s practice: a business may receive a penalty waiver after 12 consecutive months, and a waiver may be granted again later.
Ordinance on holding other public offices adopted Earlier in the evening the council opened and closed the public hearing for Ordinance Serial No. 25‑03 — amending Wasilla Municipal Code sections governing qualifications to prohibit holding certain public offices simultaneously — and the council adopted the ordinance. Council member Crafton moved to adopt the ordinance and Council member Rubio seconded; the motion was adopted by voice vote with no objection.
Other finance items Quarterly financial reports for the period ending Dec. 31, 2024, were presented and left open for discussion. The council also reviewed a schedule of disbursements and an investment report; no formal action was required for those informational items.
Ending note Finance staff and auditors said they will provide the city with the finalized printed materials and pursue GFOA submission. The council’s acceptance of the audit completes the statutory reporting for FY2024 and gives staff direction to continue work on enterprise sustainability and capital planning.
