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Lakefield council accepts 2025 audit; auditor flags segregation-of-duties weakness
Summary
Auditor Marissa Austin told the council the city has healthy cash balances and reserves for roughly six months of operations but noted a material weakness in segregation of duties; the council voted to accept the 2025 audit and will monitor funds ahead of the 2027 budget.
Marissa Austin, the auditor appearing online, presented the City of Lakefield'025 audit on June 22 and told the council the city is in a good financial position with healthy cash balances and reserves sufficient to sustain about six months of operations. She called out a material weakness involving limited segregation of duties and noted several funds, including the liquor fund, will need closer monitoring when preparing the 2027 budget.
Finance Manager Rachel Kruger and city staff were thanked for their assistance during the audit. The Council voted to accept the audit as presented (motion by Brent Pavelko; second Heather Hussong-Reasoner; voice vote, all in favor). Council asked Finance to track the funds Austin identified as needing attention and report back during budget preparations.
The acceptance records the auditor—indings for public review and obliges staff to address internal-control recommendations and monitor identified funds ahead of the next budget cycle.
