Garden City accepts FY2025 audit showing solid reserves, no control weaknesses

The Garden City Council voted to accept the independent audit for the fiscal year ending Sept. 30, 2025 after auditors from Swigart John Associates described the city's financial position as materially correct and controls as operating effectively.

Jordan Swigart of Swigart John Associates told the council the audit tied financial statements to invoices, debt confirmations, bank statements and contracts and found them "materially correct." The general fund ended the year with about $7.3 million in cash and a reserve that Swigart described as roughly a half-year of operating costs — a level he said is a good spot between liquidity and not sitting on excess funds.

The water and sewer enterprise fund reported approximately $7.9 million in cash at year-end and increased cash over the year; sanitation and other funds showed modest increases as well. Swigart noted $1.9 million in unearned ARPA revenue remained unspent as of the fiscal year end. Footnotes disclosed compensated absences and the payoff of a $65,000 final library bond payment during the year.

Auditors reported no issues with internal controls in their samples; Swigart said invoice review and bank reconciliations were in place and operating as designed. After the presentation Council president Page moved to accept the audit; the motion passed on roll call (Council members Carver Herbert, Jorgensen, Page and Aspis voted yes). Mayor William Jacobs praised city treasurer Lisa for her stewardship.

The council recorded acceptance of the audit; staff were encouraged to contact the auditors with any follow-up questions and the auditors offered to provide additional detail as needed.