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Parker accepts 2024 annual audit showing stronger reserves, auditor flags sanitation fund watch item
Summary
City council accepted the 2024 annual financial audit, which reported a clean (unmodified) opinion, stronger general‑fund reserves and a note to monitor a low sanitation fund balance; motion to accept passed 5‑0.
The Parker City Council voted unanimously March 4 to accept the city’s 2024 annual audit after a presentation by auditors with Vail & Park.
"We did issue an unmodified opinion, all standard language, clean opinion — everything that you would want to see," auditor Susan LaFollette told the council, summarizing the firm’s findings. The independent audit and the accompanying government‑auditing standards ("yellow book") report identified no material weaknesses or significant deficiencies in internal control.
LaFollette told the council the city ended the year with a government‑wide net position of $73,566,355 and unrestricted net position of $17,906,089. The general fund’s unassigned fund balance increased to roughly $8.4 million, about 25 months of operating reserves — well above common minimum guidance.
Revenue increases were driven by higher sales and property tax receipts and investment income; general‑fund revenues rose about 12% year over year. The auditors also noted the city will trigger an alternative exam (not a full single audit) in 2025 if it spends coronavirus state and local recovery funds that push federal awards over $750,000.
LaFollette pointed to one operational watch item: the sanitation (nonmajor) fund had an ending net position of about $12,000 and the auditors recommended monitoring it to avoid a negative balance if future unexpected expenses arise. Council members said storm damage and an unusual $70,000–$80,000 expense the prior year contributed to that low balance.
Council Member Lynch moved to accept the annual audit report as presented; Council Member Ngo seconded. The council voted 5‑0 to accept the audit.
Auditors thanked Grant and Patty (city staff) for cooperation during the audit, and council members praised the finance team for timely and professional work. The council had no further action on the report apart from formal acceptance.
