By Edward Lynn, Editor
EAGLE GROVE – The City of Eagle Grove’s financial report for the fiscal year ending June 30, 2024, has been released by T.P. Anderson & Co., P.C., revealing total receipts of $15,641,843 and total disbursements of $12,673,566.
According to the audit, the city’s receipts included $4,614,608 from charges for service, $4,350,000 in wastewater treatment plant settlement proceeds, $2,039,076 in loan proceeds, and $1,970,584 in property tax revenue.
Disbursements were allocated across various functions, with $6,135,440 designated for business-type activities, $1,978,440 for capital projects, $1,540,645 for public safety, and $1,178,529 for debt service.
The audit did identify certain deficiencies in internal control that were considered significant, though not rising to the level of a serious matter. These included inadequate segregation of duties in financial transactions and insufficient oversight in the reconciliation of account. However it is important to note that these are common findings for cities the size of Eagle Grove, resulting from the smaller staffs that force employees to perform multiple duties. The report recommended that the city implement additional checks and balances to strengthen financial oversight.
The audit also tested the city’s compliance with applicable laws, regulations, contracts, and grant agreements. No instances of material noncompliance were found, though minor issues, such as procedural lapses in financial documentation and minor reporting discrepancies, were noted in the accompanying Schedule of Findings.
City officials have been provided with the audit’s findings and recommendations. A copy of the full audit report is available for public review at the office of the Auditor of State and the Eagle Grove City Clerk’s office.
