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Chadron council accepts 2024–2025 audit, auditor warns General Fund reserves have declined
Summary
AMGL, P.C. presented the City's 2024–2025 audit; auditor Michael Hoback said the City remains in good overall financial condition but recommended maintaining adequate General Fund cash reserves after noting a decline over recent years.
The City Council on June 15 accepted the financial statements and supplementary information for the fiscal year ending Sept. 30, 2025, after Michael Hoback of AMGL, P.C. presented the audit and cautioned the General Fund balance has decreased in recent years.
Hoback told the council the City remains in good overall financial condition but recommended the city maintain adequate cash reserves in the General Fund during the current fiscal year to protect services and cash flow.
Councilmember Kevin Oleksy introduced Resolution 2026-46 to accept the audit as presented; the motion was seconded by Councilmember Clay Andersen and passed by unanimous roll call.
The acceptance is a filing action: the resolution states the financial statements and supplementary information as prepared by AMGL, P.C. are accepted and filed with the City Clerk. Hoback's recommendation on reserves was noted for council consideration during budgeting and fiscal planning.
No specific corrective actions or dollar targets were adopted at the June 15 meeting; the audit itself is available as filed with the City Clerk per council direction.
