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De Pere accepts clean 2025 audit; auditors note one routine finding and strong reserves
Summary
Auditors issued an unmodified (clean) opinion on De Pere's 2025 financial statements, reported one finding related to annual report preparation, and highlighted a $10.6 million unassigned general-fund balance (about 46.7% of expenditures). The council accepted the management letter.
City auditors presented the 2025 management letter and financial statements to the De Pere Common Council on July 21 and issued an unmodified (clean) opinion on the city's financial statements. Elizabeth McMasters, director on the audit engagement, told the council there were no corrected or uncorrected misstatements requiring adjustment and described one routine finding related to annual report preparation.
"We did not have any corrected misstatements or uncorrected misstatements this year," Elizabeth McMasters said. She reviewed key fund balances and noted the city's unassigned general-fund balance at $10,600,000, which she said equates to about 46.7% of expenditures and is higher than standard Government Finance Officers Association guidance. The auditors also reviewed the water utility's recent cash-flow challenges and the ongoing Public Service Commission rate case intended to improve utility finances.
Council members discussed reserve policy and staff confirmed the 2026 budget included measured use of reserves and that staff (including City Manager Flom) will continue to consider long-range capital planning in the '27 budget. The management letter and financial statements were approved on the council's motion.
