Annual independent audit turns up nothing unusual

The city of Wilsonville received some good financial news recently when its annual audit revealed that no significant accounting adjustments need to be made.

The audit was carried out by Portland accounting firm Grove, Mueller and Swank, CPA, and covered financial statements, business-type activities, each of the city’s major funds and more for the fiscal year that ended June 30.

“Wilsonville has long had an outstanding finance department,” accountant Chuck Swank told the Wilsonville City Council at its Dec. 2 meeting. “They’re also timely and accurate, and it doesn’t surprise me that we don’t have any recommended adjustments.”

Oregon cities are required by state law to undergo an annual independent audit of their financial activity.

The audit covered the city’s 2012-13 budget. For 2013-14, the city adopted a $129 million all-funds budget that includes a $32.9 million operating budget, $21.9 million in capital outlay, $5.8 million in debt service and $18.9 in interfund transfers.

The city started the current fiscal year with a total of $44.6 million in various contingency funds, and finance officials have set an ending fund balance of $5.5 million.

The general fund budget, which provides virtually all the discretionary income available to the city, is set for the coming year at $27.78 million, a 4 percent increase from the 2012-13 adopted budget of $26.71 million.

For Wilsonville residents, this year’s property tax rates have risen by 2.8 percent, while city franchise and right of way fees, which are charged to utility, cable, telephone and other service providers, have risen 5.5 percent this year.

City water rates also saw a 2 percent increase over last year, while the city council just adopted a new water rate structure that will feature 2.25 percent rate increases, primarily for residential customers, in 2015, 2016 and 2017.

Wastewater collection rates also will see a 10 percent jump on Jan. 1 to help finance ongoing construction of the city’s new wastewater treatment plant.

Swank told the council there really are no significant areas of the city’s accounting that require adjustment at this time.

“If anything would rise to what we call a significant deficiency, we are required to report those to you,” Swank said. “And we often make minor recommendations about ‘would there be an easier way to do this or that.’ Sometimes auditors can see things better when there’s a trail to follow.”

“Are there any things to look out for next year?” asked Mayor Tim Knapp.

“No,” Swank answered. “I don’t have anything specific.”

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