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Lake Quivira council approves February financial report; audit flagged one over‑insured CD
Summary
Treasurer Annie Noland told the council the annual audit is complete but the final report is pending and identified one finding that a certificate of deposit exceeded FDIC insurance limits; the council approved the February financial statements 3-0.
The Lake Quivira City Council on March 2 approved the February 2026 financial report after Treasurer Annie Noland summarized revenue and expense activity and reported one audit finding.
Noland said the annual audit is complete and the final report remains pending; auditors found one certificate of deposit that exceeded the FDIC‑insured limit and staff will redistribute funds to correct the exposure. She told the council the city is roughly $19,000 net positive year‑to‑date, that court fine revenue is averaging $5,000–$6,000 per month versus a $4,000 monthly budget, and that licensing and permit revenue rose because of a large Lakeshore South building permit. Councilmember Mike Pasley moved to approve the financial reports and Councilmember Julie Kurland seconded; the motion passed 3-0.
The report also noted timing variances on sewer and dam maintenance payments and higher professional services costs tied to legal matters and zoning consulting. Staff said outside legal counsel usage has slowed and is not anticipated to continue into March; the council did not add further action beyond accepting the report.
