City on sound financial ground, manager recommends $2M of investments

jfbeck_99_272012 — Sep 27, 2023, 5:16pm

Being issued a “clean bill of health” hardly makes for an eye-catching headline when it comes to a city audit. However, city leaders are eager to take some of that good news and reinvest it.

After presenting the city’s 2022-23 audit Monday evening, Erica Handley, Director at Drescher & Malecki, concluded that city assets and revenues exceeded liabilities by $17, 410,127, with more than $41 million of net investment in capital assets, $13.7 million of restricted funds for specific purposes and another $16.6 million for unrestricted, or unspecified spending funds.