City accounts deemed to be in order

The Maple Lake City Council got a professional overview of the city’s financial state Tuesday, June 20, as Ryan Schmidt of Schlenner Wenner & Co. presented the city’s 2016 audit.
Schmidt told the council that in the process of arriving in an opinion, standards applied to the city’s audit exceeded government requirements and included more detail, resulting in an opinion of the highest level possible.
Governmental funds
Schmidt said the 2016 Street Improvements Project was the major source of activity in the city’s Capital Project Funds. Total expenditures of $446,000 were financed by a transfer of $596,000 from the Debt Service Fund (with proceeds from 2016 bonds), making for an ending balance of $150,000.

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