Development News for Fergus Falls, Minnesota

City of Fergus Falls Receives Unmodified Audit Opinion; Financial Health Strong Across Funds

The independent auditor presented the results of the annual audit for the city, highlighting an unmodified (clean) opinion on the financial statements for the year. The report noted one internal control finding regarding the lack of segregation of accounting duties, which is common for cities of Fergus Falls' size. No non-compliance issues were found under government auditing standards or Minnesota legal compliance standards. The presentation also detailed the financial analysis of the general fund, showing an increase in fund balance, and reviewed various enterprise funds (waste management, sewage disposal, water, storm water) and the liquor store operations, all of which reported positive operating income and contributions to the general fund. The city's overall net position saw a significant increase, attributed to positive enterprise fund operations and a net benefit in pension calculations.