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Council accepts 2025 financial statements and clean audit from Baker Tilly
Summary
Oak Creek's common council accepted the city's 2025 audited financial statements and Baker Tilly audit results July 21. Auditors issued an unmodified (clean) opinion; staff reported governmental funds income of just over $4 million and an undesignated general fund balance of about $11.5 million (29.2% of revenues and state aids).
The Oak Creek Common Council accepted the 2025 financial statements and audit results prepared by Baker Tilly US LLP at the July 21 meeting. Deputy City Administrator and finance officer Max Gagan summarized city financial results and noted strong investment income and capital contributions tied to private development activity; he said governmental funds saw income just over $4,000,000 and the total fund balance was just under $60,000,000.
"We've issued an unmodified opinion," Wendy Unger of Baker Tilly told the council, describing that as the highest level of assurance that the audited financial information is materially accurate and in accordance with generally accepted accounting principles. Staff noted an undesignated general fund balance of about $11.5 million, equal to 29.2% of revenues and state aids, which is above the city's rainy-day policy target of 15'25%. The council adopted a resolution accepting the statements and audit report by roll call.
