Minnetrista council accepts 2023 audit; auditors report clean opinion, no findings
May 20, 2024 | Minnetrista City, Hennepin County, Minnesota
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The Minnetrista City Council voted unanimously May 20 to receive and accept the city’s 2023 financial audit following a presentation by CliftonLarsonAllen.
Lucas, the auditor from CliftonLarsonAllen, told the council the firm issued an unmodified (clean) audit opinion and found no control or compliance exceptions. “It’s all pretty much boilerplate language because there’s no findings,” Lucas said, summarizing the audit governance letter and internal‑control letter.
The audit presentation reviewed five years of results. Total fund balance increased in 2023 by about $571,000 (about 22.5 percent), with the unassigned portion rising by roughly $396,000. The auditor noted a $200,000 restricted public‑safety aid item that accounted for part of the increase in total fund balance versus unassigned funds. Lucas also reviewed revenue volatility tied to investment returns (a swing of about $635,000 between 2022 losses and 2023 gains) and changes in permit and miscellaneous revenues.
On the city’s enterprise funds, the auditor said the water fund’s net position returned near 2019 levels after rate adjustments and conservation tiers; sewer operations showed modest operating losses but positive cash flow after adding back depreciation; stormwater operating losses narrowed (from about $10.22k to $5.23k). The audit also summarized debt activity: the city issued 2023 bonds in April 2023 (~$7 million), raising total debt from $17,360,544 in 2022 to $22,547,364 in 2023, with higher near‑term debt service that tapers through the late 2020s.
Mayor Lisa Whelan thanked staff and the auditors. The council’s vote to accept the audit was 5–0. The auditor noted upcoming GASB and accounting standard changes that required additional testing this year but identified no material weaknesses or reportable conditions for Minnetrista.
What’s next: staff and council will continue routine financial oversight; no policy changes were required as a result of the audit.
Lucas, the auditor from CliftonLarsonAllen, told the council the firm issued an unmodified (clean) audit opinion and found no control or compliance exceptions. “It’s all pretty much boilerplate language because there’s no findings,” Lucas said, summarizing the audit governance letter and internal‑control letter.
The audit presentation reviewed five years of results. Total fund balance increased in 2023 by about $571,000 (about 22.5 percent), with the unassigned portion rising by roughly $396,000. The auditor noted a $200,000 restricted public‑safety aid item that accounted for part of the increase in total fund balance versus unassigned funds. Lucas also reviewed revenue volatility tied to investment returns (a swing of about $635,000 between 2022 losses and 2023 gains) and changes in permit and miscellaneous revenues.
On the city’s enterprise funds, the auditor said the water fund’s net position returned near 2019 levels after rate adjustments and conservation tiers; sewer operations showed modest operating losses but positive cash flow after adding back depreciation; stormwater operating losses narrowed (from about $10.22k to $5.23k). The audit also summarized debt activity: the city issued 2023 bonds in April 2023 (~$7 million), raising total debt from $17,360,544 in 2022 to $22,547,364 in 2023, with higher near‑term debt service that tapers through the late 2020s.
Mayor Lisa Whelan thanked staff and the auditors. The council’s vote to accept the audit was 5–0. The auditor noted upcoming GASB and accounting standard changes that required additional testing this year but identified no material weaknesses or reportable conditions for Minnetrista.
What’s next: staff and council will continue routine financial oversight; no policy changes were required as a result of the audit.
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