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Board accepts six‑month cash-based financial statements showing city CDs and reconciliations in progress
Summary
A finance presenter reviewed six-month cash-basis financials (07/01/2025–12/31/2025), reported over $2 million in certificates of deposit, noted bank-reconciliation work is ongoing, and the board voted to accept the statements as presented.
The board accepted the city’s six‑month cash-based financial statements covering July 1, 2025, to Dec. 31, 2025, after a presentation by a finance official who said the statement shows more complete fund receipt detail than previous reports and identifies over $2,000,000 in certificates of deposit.
The presenter (speaker 11) said the report is cash based (showing bank activity, not accrual accounting entries), explained work to reconcile bank activity to the general ledger is ongoing, and said any necessary adjusting journal entries would pre-date the six-month period if they are required. The presenter said he is confident in the reported activity and will sign the statements upon approval.
A board member (speaker 4) moved to accept the treasurer’s six‑month financial statement; after a second, the clerk conducted a roll-call vote and the motion carried.
The transcript records the board’s acceptance but notes the financial packet was sent to staff late and the published packet did not include the statements; staff committed to scanning and publishing the signed statements in the board’s normal records. The presenter described the statements as cash-based (not accrual) and emphasized that reconciliations are being completed.
