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Pewaukee finance committee readies for Baker Tilly audit, pushes for clearer budget‑to‑actual reporting
Summary
City finance leaders and auditors reviewed readiness for the Baker Tilly 2025 audit, discussed small but material trial‑balance mismatches (including a $21,000 water/sewer item), and agreed to a June check‑in and Q1 budget‑to‑actual reports for the committee; a PSC filing extension was also noted.
The Pewaukee finance committee met May 6 to review preparedness for the Baker Tilly 2025 audit and to set interim reporting expectations for the council and finance committee. The auditor said preliminary field work will begin the following week and final field work is expected in about three to four weeks, with milestones continuing through July.
The meeting flagged several modest but required fixes before auditors begin substantive testing. Committee members queried mismatched trial balances for water and tourism accounts and an apparent adjusting entry that had been booked to the wrong account during the closing process. A committee member noted a roughly $21,000 balance for water and sewer as an item to confirm; staff agreed to research and correct the balance so the audit can start from accurate opening figures.
The group also discussed a recurring vendor problem: a third‑party emergency‑services billing company that several participants said had incomplete financials and caused persistent reconciliation headaches. A staff member summarized the vendor issue bluntly: “It’s been a nightmare all the last year,” and later added that the vendor was “starting to get their act together.” Committee members said the auditor should probe that area as part of balance‑sheet testing.
Officials agreed on a near‑term calendar: Baker Tilly staff will be on site in May and work more intensively in June; the committee asked staff to arrange a June check‑in so members can confirm readiness before auditors complete the field phase. The meeting also noted an outstanding Public Service Commission filing: staff submitted an extension request for a May 1 PSC requirement because vendor‑provided meter reports were still pending.
Why it matters: an on‑time, complete audit gives the council the information needed for budget decisions and external filings such as PSC and Department of Revenue submissions. Committee members urged timely, periodic budget‑to‑actual reports so the council can see midyear variances and avoid surprise adjustments when the annual close is completed.
Committee next steps include providing the finance committee the Q1 budget‑to‑actual report in advance of a planned June meeting, resolving the water/sewer trial‑balance item, and continuing to coordinate with Baker Tilly and the outsourced accounting firm on outstanding deliverables. The meeting adjourned after the Chair moved to close and two “Aye” votes were recorded.
