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City audit returns clean opinion; general fund exceeds reserve policy at roughly 48%
Summary
An independent auditor presented a draft financial statement audit with an unmodified opinion and no statutory noncompliance; the general fundunassigned balance was reported at about 48% of the 2026 budget and the general fund increased by about $567,000 in 2025.
Tyler C., senior audit manager with Abdo, presented the city's draft 2025 financial-statement audit and said the firm is issuing "an unmodified opinion" and found "no instances of noncompliance" with state statutes in the areas they reviewed. He described the presentation as a high-level overview and noted a remaining incorporation of a fire-relief payroll report to finalize the draft.
Tyler said the city's unassigned general fund balance is at roughly 48% of the 2026 budget, exceeding the city's formal 40% fund-balance policy, and that the general fund increased by approximately $567,000 in 2025, with a year-end general fund balance reported around $1.8 million. Councilors asked questions about public-safety expenditures and liquor-fund performance; Tyler and staff explained slower sales and some inventory/timing effects that depressed gross profit in the off-sale liquor fund in 2025.
Council moved and accepted the audit report by voice vote.
What happens next: Staff will complete the final audit deliverable after incorporation of the remaining report data and file as required.
