The City of Balaton Independent Auditor’s Report had an unmodified opinion, which means a clean opinion and the financials present fairly in accordance with accounting principles generally accepted in the United States of America, said Darci Anderson from Kinner & Co.
Anderson presented the latest audit at Monday’s city council meeting.
Last year’s cash balances increased from 2024 in the Proprietary Funds by $193,166.
The statement of net position showed that total assets increased by $101,069 and liabilities decreased by $38,096 Cash balances increased from 2024 in the Governmental Funds by $293,385. Total assets increased by $284,396 and liabilities decreased by $30,370.
The Balaton City Council has formally adopted a fund balance policy for the General Fund.
The City’s policy is to maintain a minimum unassigned fund balance between the range of 35%50% of budgeted operating expenditures for cash flow timing needs.
At Dec. 31, 2025, the unassigned fund balance of the General Fund was 76% of the subsequent year’s budgeted expenditures.
The General Fund bottom line was for the year was $1,377.968. Total revenues were at $1,485,639, with expenditures coming in at $1,814,211; the net change in fund balance was $317,528. The expenses for the year were under budget in the General Fund.
