City finances get clean bill of health

By: 
Dylan Brown
Weiser continues to be in good financial health, according to the most recent audit of the city’s books.
 Quest CPA partner Kurt Folke praised city officials while presenting his fiscal 2024 report at the most recent Weiser City Council meeting.
 “Big takeaway financially, city’s doing well across the board – both reserves and one-year performance,” he said. “So no concern areas from my perspective.”
 The report showed the city’s general fund bringing in more revenue then it spent, ending the fiscal year with nearly $4.2 million. The balance is enough for the city to cover the costs of doing business for 14 months. Folke said auditors generally like to see a general fund with at least a six-month operating reserve, ideally 12 months. 
 “If any other funds are struggling, that’s your only real discretionary fund,” he said. “And so you’ve got that 12 months plus a little bit more, so you’re in good shape.”
 Folke cautioned that part of the success stemmed from a banner year for returns on investments from the state’s local government investment pool and others.
 “Haven’t really seen rates that good, at least I haven’t, since the early 2000s so that made a whole bunch for the city,” he said. “Just wanted to point that out because we certainly can’t count on that every year.”
 Folke also highlighted the city’s robust library fund, which ended with an almost $433,000 balance, and a $34,000 increase in the recreation fund from last year.
 

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Signal American

18 E. Idaho St.
Weiser, ID 83672
PH: (208) 549-1717
FAX: (208) 549-1718
 

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