10.a1 City of Scandia Audit Presentation
City of Scandia, Minnesota
Presentation of the Audited Financial Statements
Fiscal Year Ended December 31, 2020
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Audit Process and Opinion
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Required Communications
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Controls and Compliance
We proposed several audit adjustments that were material to the financial statements – primarily related to the adjustment of several accrual accounts
Your City has a lack of proper segregation of duties, which is very common for a City of your size
Schlenner Wenner & Co. prepares your City’s financial statements
No instances of noncompliance were identified as a result of our procedures
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Revenues exceeded budgeted amounts by $57,011
Expenditures were under budgeted amounts by $229,701
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Detailed Revenue Analysis
General Fund
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Detailed Expenditure Analysis
General Fund
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City policy is to maintain a minimum unassigned general fund balance equal to 50% to 65% of the total annual General Fund operating expenditures
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Cash Trend Analysis
General Fund
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Financial Highlights
Other Governmental Funds
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Financial Highlights
Other Governmental Funds
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Cash Trend Analysis
Other Governmental Funds
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Financial Highlights
201 Sewer Enterprise Fund
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Financial Highlights
Uptown Sewer Enterprise Fund
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Cash Trend Analysis
Enterprise Funds
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Total Government-Wide Assets
Financial Highlights
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Total Government-Wide Liabilities
Financial Highlights
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Long Term Debt Outstanding
Currently includes:
2013 Certificates of Indebtedness
2015 Certificates of Indebtedness
2017 Certificates of Indebtedness
G.O. Street Reconstruction Bonds, Series 2018A
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Questions?
Jon Archer, CPA
Partner
jarcher@swcocpas.com
320-251-0286
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