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Edina council accepts 2024 comprehensive financial report; auditors issue clean opinion
Summary
Bergen KDV presented the 2024 annual comprehensive financial report and gave an unmodified (clean) audit opinion. The council voted to accept the report; one council member abstained. Staff noted a material audit adjustment and one Minnesota legal compliance finding (prompt payment).
Andy Grace of Bergen KDV presented the city’s annual comprehensive financial report for the year ended Dec. 31, 2024, and told the council auditors were issuing an unmodified (clean) opinion on the financial statements. Grace noted one material audit adjustment that was corrected, and one Minnesota legal‑compliance finding related to prompt payment of government bills; there were no findings in federal ARP compliance testing.
Grace reviewed five‑year trends showing a roughly 9% revenue increase in 2024 (driven by property taxes and charges for services), expenditures below budget in several departments and an overall general‑fund increase in unrestricted fund balance that aligns with city policy and Office of the State Auditor guidance.
Following brief council discussion and staff gratitude for the finance team’s year‑end work, the council moved to accept the annual report. The motion carried with four yes votes and one abstention; the clerk directed the record to reflect the vote.
