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Rogers City Council accepts 2025 audited financial statements showing higher cash balances and utility rate-driven revenue
Summary
The Rogers City Council unanimously accepted the city's 2025 audit, which reported higher fund balances driven by lease revenue and a $1.9 million restricted loan grant, and noted water and sewer rate increases boosted enterprise fund receipts.
The Rogers City Council voted to accept the 2025 audited financial statements after a presentation by Alex Triple, CPA of ABDO.
Triple told the council the audit showed two notable revenue drivers: about $450,000 in additional fund balance from tower and billboard leases, and a large increase in the revolving loan fund tied to a $1.9 million Minnesota Investment Fund grant that is restricted for future business expansion projects. He also reported that the water fund reflected rate increases of roughly 15%–19% from 2024 to 2025, lifting cash balances in that fund from about $23.5 million to roughly $26.88 million. The sewer fund’s revenues rose as well (sewer rate increases near 6%), and the liquor fund’s operating income increased to about $376,000 after on-sale operations ended.
Assistant Finance Director Matt Rathlasberger oversees the audit process and staff praised ABDO’s ongoing support and training during the year. After the presentation, a council member moved to accept the 2025 audited financial statements; the motion received a second and passed by voice vote.
Why it matters: the audit summarizes the city’s fiscal position heading into planned capital projects, showing strong cash positions in enterprise funds and a temporary dip in local option sales tax receipts tied to fieldhouse project costs. Staff told the council that most debt service payments are planned and funded through the tax levy and special assessments.
What’s next: Council accepted the audit and did not request additional action; staff and the auditor remain available to answer follow-up questions.
