Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
City says overdue audits are closing out; fund balance policy and use of electric sale proceeds explained
Summary
City staff told the council the two overdue audits are near submission following JLAC guidance and summarized the city’s fund balance policy and how proceeds from the 2018 electric utility sale were set aside for pension, OPEB, storm reserves and capital.
City finance staff updated the council on overdue audits and on the adopted fund balance policy that allocated proceeds from the sale of the city’s electric utility.
City Manager/finance staff reported the fiscal 2022–23 audit was completed and submitted on May 7; the 2023–24 audit had been delayed but a Joint Legislative Auditing Committee (JLAC) letter set a…
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
