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External auditor gives Waukesha water utility a clean opinion for 2024; staff discuss reserves and debt metrics
Summary
Baker Tilly delivered an unmodified (clean) audit opinion for the Waukesha Water Utility’s 2024 financial statements; auditors highlighted a 4.1% rate of return for 2024, strong cash reserves, and a debt-coverage ratio well above requirements.
Jody Dobson of Baker Tilly reported to the Waukesha City Water Utility Commission June 19 that the firm had issued an unmodified (clean) opinion on the utility’s 2024 financial statements.
Nut graf: The auditor described the opinion as consistent with prior years, noted one new GASB accounting standard on compensated absences that produced only a small change, and highlighted several financial benchmarks: a 4.1% rate of return for 2024, months of cash on hand that remain a strong position despite a decline from prior years, and an…
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