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Willow Park receives clean audit for fiscal 2025; reserves and utility position cited
Summary
Willow Park officials accepted a clean (unmodified) audit for the year ended Sept. 30, 2025, showing roughly $7.2 million in governmental assets, about $5.4 million in fund balance (nearly $4 million unassigned) and a proprietary net position of about $16.9 million for water/wastewater/solid-waste funds.
Reba Long, senior manager at Snow, Garrett & Williams, presented the city's annual financial report and delivered a clean (unmodified) audit opinion for the fiscal year that ended Sept. 30, 2025.
Long summarized the high points: total governmental assets of about $7.2 million and total liabilities of roughly $1.4 million, yielding a governmental fund balance near $5.4 million of which just under $4 million is unassigned and available for future expenditures. Long called that a "really healthy fund balance" for a city of this size and noted its importance for bond ratings and resilience to revenue fluctuations.
On the proprietary side (water, wastewater, solid-waste), Long said total assets were approximately $63 million, liabilities about $46 million, and net position roughly $16.9 million with an unrestricted portion of about $7.5 million. She also pointed out a one-time capital contribution of about $1.4 million from Hudson Oaks to expand the wastewater treatment plant and noted that excluding that contribution the change in net position was modest and consistent with prior years.
Following the presentation, a council member moved to approve the audit "as presented," and the council voted to accept the report (the Chair announced approval; the transcript does not list a roll-call tally). The auditors also reported no identified deficiencies in internal control or instances of noncompliance that required mention.
Ending: The acceptance of the audit will allow staff and council to proceed with budgeting and grant or bond planning based on the audited figures; council did not request additional audit follow-up in the meeting.
