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Monticello accepts 2025 financial audit, finds no compliance issues
Summary
Auditor Kelsey Larson reported no instances of noncompliance with Minnesota statutes or federal grant requirements; the Council unanimously accepted the 2025 Annual Comprehensive Financial Report and noted healthy fund balances, strong reserves and declining debt levels.
The Monticello City Council on May 26 voted unanimously to accept the City's 2025 Annual Comprehensive Financial Report after a presentation by auditor Kelsey Larson of Abdo.
Larson reported that "there were no instances of noncompliance with Minnesota statutes or federal grant requirements were identified," and provided an overview of fund balances, debt obligations, enterprise fund performance and cash reserves. Councilmembers described the city's financial position as healthy and the motion to accept the audit passed with no further comment.
The acceptance completes the city's external audit process for fiscal year 2025 and does not, according to the auditor, require additional corrective action.
