SCC Item 1. 2024 City of Otsego Audit Presentation by BerganKDVCity of Otsego
Otsego, Minnesota
Nancy Schulzetenberg, CPA
SCC - Item 1.
The Audit
Opinion on the City’s Basic Financial Statements
◊Unmodified Opinion –Best opinion an auditor is able to offer
◊Provides assurance that the financial statements are fairly presented in all
material respects
Report on the results of an audit performed in accordance with
Government Auditing Standards
◊Lack of Segregation of Accounting Duties
◊No compliance findings
Components of the Audit
Report on the results of testing on Minnesota Legal Compliance
◊No findings
Communications Letter
◊Required communications
◊Financial analysis
◊Emerging issues
Components of the Audit (Continued)
Financial Communications
General Fund
General Fund Revenues
General Fund Revenues (Continued)
General Fund Revenues –Budget and Actual
General Fund Expenditures
General Fund Expenditures (Continued)
General Fund Expenditures
–Budget and Actual
Tax Capacity, Levy, and Rates
Water Fund
Sewer Fund
Storm Water Fund
Auditor
Nancy Schulzetenberg
AUDIT PARTNER
320-650-0219
NANCY.SCHULZETENBERG@CREATIVEPLANNING.COM
Thank You
Thank You
This commentary is provided for general information purposes only, should not be construed as investment, tax or legal advice, and does not constitute an
attorney/client relationship. Past performance of any market results is no assurance of future performance. The information contained herein has been obtained
from sources deemed reliable but is not guaranteed.