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New York Mills receives clean 2024 audit; revenues beat budget despite higher capital spending
Summary
An independent auditor told the New York Mills City Council that the city received a clean opinion for its 2024 financial statements; revenues exceeded budget while disbursements rose due to a new fire truck, sand/salt building construction and pool renovations.
Courtney Mosloski of audit firm Eide Bailly presented the City of New York Mills’ 2024 financial audit via Teams, reporting a clean audit opinion and that revenues came in higher than budgeted. Mosloski told the City Council the rise in disbursements primarily reflected capital spending on a new fire truck, construction of a sand/salt building and pool renovations. She said the city maintains a positive unrestricted fund balance, which contributes to a favorable bond position.
The presentation noted the city’s healthy cushion in its general funds to cover unforeseen operating expenses. Following the audit review, Mayor Hetland thanked Mosloski for the presentation; no formal council action was recorded beyond receipt of the audit.
The audit summary may affect the city’s financing flexibility going forward as it balances capital needs and operating reserves. The council did not take immediate additional action at the meeting; the next regular meeting is scheduled for May 13, 2025.
