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City audit: Dyersburg reports $141.27 million net position and one finding on insurance/debt funds
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Summary
Finance committee presented the audit for year ended June 30, 2025, reporting a total net position of $141,268,565 (up $4,934,400) and one finding that expenditures exceeded appropriations in the insurance reserve and debt service funds.
The finance committee reported on the city audit for the year ended June 30, 2025, at the April 20 meeting. Katie Little with CRS CPAs presented the audit to committee members; Treasurer Steve Anderson told the committee the city's total net position was $141,268,565, an increase of $4,934,400 from fiscal year 2024. Governmental funds increased by $4,550,354 and business‑type activities increased by $384,046.
The audit contained one finding: expenditures exceeded budgeted appropriations in the insurance reserve and debt service funds. The insurance reserve budget had been amended in June 2025, but higher‑than‑expected claims in July led to expenditures exceeding the amended budget. The refunding of school bonds issued in 2013 produced additional revenues and expenditures of $7,856,870 in the debt service fund. The finance committee noted the city remains in good financial standing, and the audit was made available on the City of Dyersburg web page.
