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Comptroller reports collections dip but audit returns clean opinion
Summary
Comptroller Diane Waldron told the joint City Council and Board of Finance that current tax collections appear behind the prior year but are comparable after late escrow postings; the city received an unmodified (clean) audit and the general fund unassigned balance stands at about 11.6%.
Comptroller Diane Waldron briefed the City Council and Board of Finance on the city’s monthly revenue and expense report and reported that the independent auditors issued an unmodified, or clean, opinion.
Waldron said the city is “at 57% on current revenues compared to 66% in the prior year,” but added that timing issues and unposted escrow payments mean the collections are effectively comparable to last year when those receipts are accounted for. She said, “when you add all that in, we’re actually comparable to last year at this time at 65%.”
Waldron highlighted strong building permit and conveyance-fee receipts and said investment income is roughly 50% of budget year to date as the city finishes closeout of the prior fiscal year. She told the panel the general fund’s unassigned fund balance is about 11.6% and the total fund balance is approximately $43,000,000, and that the city used roughly $2.5 million of fund balance this year related to Board of Education appropriations.
On the audit, Waldron said the city received a clean auditors’ report and an unmodified opinion. She noted the management’s discussion and analysis section and encouraged members and the public to read the audit and contact her office with questions. Hard copies are filed with the city clerk and an electronic copy is available on the city website.
Council members asked routine follow-ups, including whether hard copies are provided to the library and the current audit firm’s contract term; Waldron confirmed audit materials are filed with the city clerk and said the current audit contract runs through the June 2028 audit year.
The council took no formal policy action on the report itself; the presentation served as the comptroller’s regular monthly update and as public notice of the audit outcome.
