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Independent auditors deliver clean opinion on Willard's FY2024–25 financials; utility fund shows operating deficit
Summary
Origin Associates presented the FY2024–25 audit and gave a clean opinion; the audit showed a positive net position overall but a utility fund operating loss (~$220,000) and recommended internal-control improvements.
Origin Associates, serving as Willard's independent auditors for the first time this year, presented the city's financial statements for the year ended June 30, 2025, and issued a clean opinion.
Heather of Origin Associates told the council, "In our opinion, the financial statements referred to above present fairly in all material respects." The auditor's condensed management discussion highlighted that general-government activities were positive on the government-wide statement and that total net position for business-type activities (including utilities) was positive overall, but the utility fund reported an operating loss of roughly $220,000 under full-accrual accounting. Auditor recommendations were limited to improvements in internal controls and timing; auditors reported no state findings for the year. Council members asked whether recent rate increases should plug the operating gap and auditors and staff said the rate adjustments were expected to improve operations over time and that impact fees and growth would help offset capital needs.
The presentation focused on transparency and next steps: staff and council should review the auditor's recommended control changes and consider the timing of capital replacement planning to avoid future debt spikes.
