Commission accepts spotless audit, approves budget amendment and stormwater ordinance second reading
Loading...
Summary
City staff presented a clean external audit and the commission accepted the annual comprehensive financial report; commissioners also approved a budget amendment, a stormwater code amendment (second reading) that establishes a utility fee to begin in 2027, and a second reading on water/sewer bond anticipation notes.
The Bowling Green City Commission accepted its audited Annual Comprehensive Financial Report for the fiscal year ending June 30, 2025, after comments from City finance staff and the Audit Committee.
CFO Aaron Beluga reported the city’s overall net position increased to about $390 million, an approximately $70 million rise from the prior year, and noted governmental fund balances increased roughly $2 million (about 1%). He also said the city implemented a new accounting standard to report compensated absences, which increased liabilities by about $6.5 million. Pamela Napier of the audit committee described the audit as "spotless" and said the report would be submitted to the Government Finance Officers Association.
On related legislative business, commissioners approved a budget amendment to the FY26 operating budget (second reading) and conducted a second, binding reading of an ordinance revising Chapter 21 of the city's code on public infrastructure rights-of-way and stormwater. Staff said the stormwater ordinance will not be implemented until Jan. 2027 and described a planned $4 utility fee that will be charged via utilities (details to be determined) to fund stormwater programs. The commission also advanced and approved second readings related to water and sewer revenue bond anticipation notes.
