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Riedell posts unaudited FY 2024-25 results; general fund roughly balanced, water projects delayed
Summary
The Riedell City Council received the city's unaudited fiscal year 2024-25 financial report at its Nov. 4 meeting.
The Riedell City Council received the city's unaudited fiscal year 2024-25 financial report at its Nov. 4 meeting. The finance director said the report, prepared from unaudited records as of June 30, 2025, will be followed by a formal audit expected in early 2026.
According to the presentation, the city ended the fiscal year with total fund balances of about $9.7 million and expenses that slightly exceeded revenues by about $104,000. The finance director attributed the variance primarily to a $725,000 reduction in special-revenue funds related to required drawdowns of Community Development Block Grant (CDBG) program income…
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