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Audit shows mixed results for utility funds; gas fund increased while two others fell
Summary
The auditor reported that the gas enterprise fund increased its net position and cash balances for 2025 while two other enterprise (utility) funds decreased net position; Coates explained differences arise from accounting presentations and cash flows.
Marla Coates reviewed enterprise (utility) funds and told the council the gas fund increased its net position for the year while the other two enterprise funds decreased theirs. She said that cash‑flow statements and presentation differences (full accrual versus modified accrual) can produce situations where a fund gains cash even if net position declines because of non‑cash items such as depreciation.
Coates urged council members to review the enterprise fund statements and cash‑flow schedules in the report for detail on operating revenues, expenditures, and any non‑routine items that affected net position. The transcript records explanation but no council questions or formal decisions recorded thereafter.
