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Oak Grove audit returns clean opinion; city finances largely stable
Summary
City auditors presented a clean opinion on Oak Grove’s fiscal 2025 statements, reporting $9.6 million in total assets, a modest $300,000 drop in overall fund balance, and strong water/wastewater results, while identifying no internal-control deficiencies.
Auditors from Westbrook and Company told the Oak Grove Board of Aldermen that the city’s 2025 financial statements "were presented fairly," delivering a clean audit opinion and no findings for internal-control deficiencies.
Brian, the auditor presenting the report, summarized the key figures: total assets of about $9.6 million as of Dec. 31, governmental assets of roughly $5.1 million and business-type (water/wastewater) assets of about $4.5 million. The audit showed $8.4 million in revenues and $8.7 million in expenditures across governmental funds, a net decrease in fund balance of about $300,000, and a $221,000 increase in the general fund. The water and wastewater funds together posted an increase in net position of about $719,000.
Brian highlighted the city’s debt position and payment schedule, noting governmental activity debt decreased from about $8.8 million to $7.9 million and business-type debt fell by roughly $315,000 to about $7.65 million. He said interest rates on current obligations are generally favorable, with the highest around 4 percent. He added, "we did not identify any deficiencies in internal control."
Board members thanked staff and auditors for producing a clean audit. Mayor Dana Webb and other aldermen praised city staff for the result and the audit was accepted as presented. No further action was requested; staff will incorporate the audit materials into the fiscal record and continue usual budget and financial planning work.
