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Auditors give city clean opinion; council hears $11.7 million in federal awards and planned projects
Summary
Auditors delivered an unmodified opinion on Caldwell's 2023-24 financial statements and health trust. City staff reported $82.1 million in governmental fund balance, $33.5 million in planned projects and $11.7 million in federal awards, including $9.5 million in ARPA funds.
The Caldwell City Council on April 7 received an audit presentation showing an unmodified (clean) opinion on the city's financial statements for the year ended Sept. 30, 2024, and a clean opinion on the employee health trust financials.
Bobby Lawrence, audit partner with Eide Bailly, told the council the audit found no material misstatements and no adjusting journal entries were required. "We did not have any, what we call, adjusting journal entries," Lawrence said. Rochelle (last name on file: Casperi), who presented fund-level details for the city, complemented staff work on preparing the records for audit.
The audit packet included a summary of governmental and enterprise fund balances and a schedule of federal awards. Staff reported $82,100,000 in total governmental fund balance, though much of that is restricted or planned for projects: $33,500,000 in planned projects, $16,000,000 held in reserves and $27,100,000 restricted by use, Rochelle said.
City staff also reported a large year for federal awards: $11,700,000 received and expended in the fiscal year. Rochelle listed the largest programs in the single-year total: $9,500,000 in ARPA funds, roughly $810,000 from the Idaho Transportation Department Airport Improvement Program, about $755,000 in CDBG, and about $602,000 in a SAFERS grant. "It was a very high year for federal awards," Rochelle said, and staff warned the ARPA amount will decline in future years.
Councilors asked follow-up questions about planned projects, funding rollovers and a quiet zone project. Rochelle said some multi-year projects were rolled forward and that staff would follow up with budget manager Raelynn on the quiet-zone funding.
Council action tied to the city's finance business was taken later in the meeting: the council approved accounts payable and payroll as presented. The motion to accept accounts payable of $6,462,881.78 and payroll/electronic payments totaling $1,456,072.06 was moved and seconded and passed on a voice vote.
Why it matters: A clean audit opinion indicates the city's audited financial statements conform materially with generally accepted accounting principles. The size and timing of federal awards and planned capital projects affect budgets and near-term spending priorities.
