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Westminster council accepts annual audit showing $4.8 million net‑position increase
Summary
City Administrator summarized the auditor's report after the contracted auditor was absent; council voted unanimously to accept an unmodified audit that shows a $4.8 million increase in net position, stronger reserves, and several single‑audit items tied to federal grants.
The Westminster City Council unanimously accepted the city's annual financial audit after City Administrator Bronson presented highlights while the contracted auditor was unavailable. Bronson said the audit carries an "unmodified, unqualified opinion" and asked the council to formally accept the report so it can be distributed to state and federal agencies.
Bronson told the council the city's total net position rose by about $4.8 million in the audited year, reflecting approximately $17.2 million in revenues against roughly $12.3 million in expenses. He noted the audit shows an unassigned general fund balance of about $1.6 million, which he said represented approximately 56% of general‑fund expenditures for 2024. Bronson also pointed out a $5.0 million state appropriation received for the Hall Road Recreation complex that appears in the audited year when the funds were received but before they were fully spent.
Bronson described the single‑audit section and identified three items that qualified for additional review, including expenditures tied to a USDA rural development water infrastructure project and a roughly $32,000 Appalachian Regional Commission reimbursement for the downtown master plan. He said the auditor restated one prior classification (a lease‑purchase amount reclassified from capital to expense) and emphasized the restatement was a technical correction rather than an adverse finding.
After brief questions from council members, a motion to accept the audit passed on a voice vote with all members recorded as voting yes. Bronson said the auditor will present in January to answer technical questions, and he will distribute the full report to required agencies once the council's acceptance is recorded.
The council's acceptance formalizes the city's audited financial position and clears a statutory step that must occur within six months of the fiscal year close.
