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Verona accepts clean 2025 audit, approves $771K in bills and awards pavement contracts
Summary
Baker Tilly presented a 2025 audit with an unmodified (clean) opinion and one immaterial audit entry. The council approved payment of $771,186.58 in bills and awarded two pavement treatment contracts totaling about $218,555.
Justin Holand of Baker Tilly gave the report on the 2025 audit, noting a single immaterial audit entry and an unmodified (clean) opinion for Verona's financial statements. The general fund recorded net income (about $592,000) and notably higher than budgeted investment income (approximately $1.3 million). The citys unassigned fund balance was reported as strong, the general fund reserves cover roughly six months of expenditures, and utilities showed mixed operating results prompting staff to consider rate studies.
Council approved payment of bills totaling $771,186.58, which included three large payments: AECOM ($69,746.74) for engineering services, a pole-painting project ($74,950), and public works garage doors ($75,446). The council moved to accept the 2025 financial statements and voted to adopt that acceptance.
In procurement, the council awarded the citywide pavement surface treatment contracts: Scott Construction, Inc. was awarded $146,151.45 for a chip-seal project (engineer estimate $162,850.49) and Farner Asphalt Sealers, LLC was awarded $72,403.98 for a seal coat project (engineer estimate $89,963). Staff said both firms have relevant experience and recommended awarding the contracts.
The councilers asked staff to follow up on the utilities' operating positions and any needed rate-study timing; staff will report back as appropriate.
