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City audit returns unqualified opinion; general fund and infrastructure investments highlighted
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Summary
Independent auditors presented an unqualified (clean) audit opinion dated March 31 and reported an unassigned general fund balance of about $18 million (roughly 5.3 months of operating expenses), plus approximately $10.5 million invested in infrastructure in 2025 and $5.5 million of debt paid down.
Independent auditors from CRI delivered the City of Enterprise’s FY25 audit to the council on April 7 and reported an unqualified (clean) opinion dated March 31.
Tyler Dunaway, partner in charge for the audit, told the council the unassigned general fund balance was about $18 million — roughly 5.3 months of operating expenses — which sits within standard best-practice ranges. Dunaway said the city invested about $10.5 million in infrastructure in 2025 and paid down approximately $5.5 million in long-term debt; he also explained that water and sewer enterprise funds showed net revenue behavior tied to capital investments and that federal-award testing on ADEM grants produced no findings.
Dunaway said the schedule of findings and questioned costs contained many 'no' entries, meaning auditors did not identify significant deficiencies or material weaknesses to report. He recommended council members review the government-wide and fund financial statements, and noted that while pension and other long-term liabilities appear on government-wide statements, they are not near-term cash obligations.
Council members thanked the finance team and auditors for completing the audit earlier in the spring than in prior years and praised staff for improved reporting timelines.
The presentation is a routine audit briefing; the council did not take formal action beyond acknowledging the report.
