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Auditors give Otsego an unmodified opinion on 2025 finances; fund balance above policy
Summary
BerganKDV reported an unmodified opinion on Otsego's 2025 financial statements with no findings on Minnesota Legal Compliance, Government Auditing Standards, or the Single Audit. City officials noted a 52% fund balance (policy: 45%) and discussed a planned stormwater fee increase.
BerganKDV auditors told the Otsego City Council on June 22, 2026, that they issued an unmodified opinion on the city's 2025 financial statements and found no issues in testing for Minnesota Legal Compliance, Government Auditing Standards, or the Single Audit. "The auditors expressed an unmodified opinion on the City's financial statements," said Nancy Schulzetenberg of BerganKDV.
City Administrator and Finance Director Adam Flaherty said the audit showed the general fund balance at 52 percent, above the council's 45 percent policy minimum; he said the council will consider that overage as part of the upcoming budget review. Councilmember Ryan Dunlap asked about an increase to stormwater fees; Flaherty said the council previously agreed to raise the fees incrementally to better cover stormwater expenses and that a fee adjustment will be adopted at the regular meeting later that evening. The audit presentation and related questions were recorded in the meeting minutes.
