City finances in compliance
Superior's city finances are in order, according to the 2017 audit performed by Wipfli CPAs and Consultants. Dan Walker of Wipfli gave an unqualified opinion of the city's financial statements for last year. "We have the same deficiencies with in...
Superior’s city finances are in order, according to the 2017 audit performed by Wipfli CPAs and Consultants.
Dan Walker of Wipfli gave an unqualified opinion of the city’s financial statements for last year.
“We have the same deficiencies with internal controls that we have had for many years,” Walker said. “We have two material weakness, including the fact that we do the financial statements … and a few material adjustments.”
Walker said it is fairly common for cities and counties to leave the financial statements to the auditors, and the number of material adjustments Wipfli makes has been going down steadily.
Some budgets ran slightly over budget, including the mayor’s budget because of changes in health insurance; the city clerk, which paid overtime for a recount; and the fire department, which retained grant-funded staff until retirements took effect at the end of the year after grant funding ran out, Assistant Finance Director Chris Bronson said.
Other budgets came in under budget, including public works, which was about $600,000 under budget, and administration and engineering.
Overall, the city was under budget in 2017. The city has an unassigned fund balance of $9.9 million, up about $260,000 over the prior year.