Wyoming accepts 2024 audit; auditors report unmodified opinion and council probes water and sewer fund losses

Bergen KDV auditors presented the City of Wyoming’s 2024 audit on May 6 and issued an unmodified opinion on the financial statements, telling the council the statements were fairly presented in all material respects and that there were no audit findings under government auditing standards or Minnesota legal-compliance findings.

Audit manager Aaron Dal summarized key results: modest growth in general fund revenues for 2024, an increase in the share of revenues from taxes and special assessments, and an unrestricted general fund balance of about $3.3 million (reported as roughly 65–66% of the subsequent year's budgeted expenditures under city policy).

Council members raised questions about the water and sewer enterprise funds, which showed operating losses when depreciation was included despite a recent rate study. City staff and auditors said depreciation frequently yields accounting losses for enterprise funds; in 2024, several unplanned or large capital and maintenance items increased expenses, including a trunk water-main project (approximately $825,000 project cost, with $450,000 paid from ARPA per staff statements), unanticipated water-main breaks, well equipment replacement, lift station repairs and a sewer upsizing project.

Auditors and staff said the city remains in a strong net position on the water and sewer funds but will continue monitoring performance and may revisit rate assumptions if needed. The council moved to accept the 2024 audit presentation; the motion was approved as recorded.