Waverly accepts clean 2025 audit, approves bond transfer and records-retention resolution; nuisance-code items tabled
The council received an unmodified (clean) audit for 2025 with three internal control findings, approved a transfer of an old general‑obligation bond into the 2018 bond fund (Resolution 2026‑18) and adopted a records‑retention resolution (2026‑21); Chapter 90 nuisance items were tabled until April 22 for further review.
The full story
Auditor Tyler See of Abdo Solutions presented the City of Waverly’s 2025 financial‑statement audit on April 14 and issued an unmodified (clean) opinion, noting no Minnesota legal compliance violations. The auditor identified three internal control findings common in small governments: limited segregation of duties, staff preparation of financial statements, and material audit adjustments that required auditor assistance. The auditor recommended diversifying where the city holds cash and developing a long‑term financial plan; he also noted capital project funds were about $300,000 in deficit after the Legion Park bathroom project.
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