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Auditors report healthy fund balances but flag water fund operating loss
Summary
Siegfried Crandall delivered a clean audit for fiscal year 2025, noting a $4.6 million general fund balance (79% of annual expenditures), roughly $2.9 million in restricted street funds and capital reserves, but an operating loss of about $400,000 in the water fund and a police pension funded at 64% of target.
Dan of audit firm Siegfried Crandall presented the city—s annual audit and management letter, saying the auditors issued an unmodified (clean) opinion and made five adjustments, mostly related to capital assets and recording payables.
"You have good people managing your finances," Dan said, noting the general fund balance…
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