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Council gets tentative FY27 budget, staff recommends external accounting support
Summary
Council reviewed a tentative FY27 budget that balances the general fund and identifies capital and maintenance needs; finance staff proposed a limited engagement with an outside accounting consultant to strengthen fund accounting and year‑end close procedures.
Beaver City staff presented a tentative FY27 budget and capital list and walked council through fund‑level numbers on May 12. Staff reported a general‑fund budget balanced at $5,235,437.50 for revenues and expenses and noted several enterprise‑fund positions: water fund revenues of $942,741 against expenses of $1,120,543 (a deficit of roughly $177,802), ongoing sewer project grants and bond financing tied to a roughly $9,000,000 sewer lagoon project, and power and airport funds showing positive net revenue to date.
During the finance update, Treasurer/finance staff (speaker S3) recommended bringing on an outside accounting consultant to assist with internal controls, monthly reconciliations and to help close fiscal year books correctly. The consultant discussed at the meeting proposed services (monthly advisory, daily support as needed) and a fee structure that staff summarized as approximately $1,250 per month and a one‑time close fee (about $3,000) to close the prior fiscal year and help transition to the new system. Council members supported a near‑term pilot or limited contract (suggested six months) to strengthen internal controls as the city adapts to a new financial system.
Council asked staff to return with refined capital‑project estimates and to prioritize O&M budgeting for parks and public facilities so the capital program aligns with ongoing maintenance plans. Staff also set a tentative adoption timeline and public‑hearing goal of early June to complete the FY27 process.
