Waldport Works On Financial Reviews And Audits

WALDPORT — Waldport officials discussed outstanding audit work and the city’s fiscal-year financial review at the October City Council meeting. During the audit discussion, City manager Dann Cutter said staff would prioritize sending auditors a more legible fiscal year 2022 trial balance, a financial report produced using the city’s former accounting software.

Cutter said the older system made the records difficult to read. The city had also provided auditors with capital asset plans for fiscal years 2022 through 2026. Council members discussed setting clearer timelines for future audits. Cutter said the auditor had indicated an audit could take about 45 to 60 days after receiving all required information.

He said the city could consider contract terms requiring the auditor to identify missing information promptly and complete the work within an agreed period once the submission is complete. The transcript does not show a final decision on changing the audit contract. "I feel strongly that we need these audits done" commented Councilor Susan Woodruff.

Fiscal-year financial review

The council also reviewed Resolution 1329, concerning the fiscal year 2026 financial review. Cutter described it as a budgetary transfer made while the books were still open and said the city intends to schedule this type of review each June going forward.

He cited several costs affecting the review, including building expenses, an earlier-than-usual fireworks bill, expected costs for two major road bridges, and higher contracting and legal expenses. Some of the latter costs were associated with lawsuits and work to strengthen the city’s information-technology infrastructure.

Cutter said the city remained within its general-fund budget allocation and that available contingency funds could cover the overages, so a supplemental budget was not required.

The council voted to approve the financial-review measure.