Superior Finished 2020 Almost $1 Million Under Budget Despite COVID-19
The city gets a passing grade! A recent audit of the City of Superior's finances showed that things are in good shape - at least in relation to 2020 numbers.
What might come as a surprise to some - especially when considering the financial strain that the COVID-19 Pandemic placed on almost everything: municipal operations came in under budget for 2020. In fact, when looking at the general fund alone, that line item finished under budget "by about $826,000".
An article in the Superior Telegram details the process and the results. The audit process was overseen by Wipfli CPAs and Consultants. Their findings resulted in an "unqualified or clean opinion regarding the financial statements, meaning they follow generally accepted accounting practices".
As far as adjustments - there weren't many. Senior Manager with Wipfli CPAs and Consultants shared "[w]e did did have a couple of audit adjustments, but I think primarily that was usual in the past. We help with allocation of WRS (Wisconsin Retirement System) and life insurance funds. There weren't really that many adjustments."
Along with government activities, the audit process also took a look at "business-related activities covered by the city's enterprise funds". Those funds include the expenses and revenue connected to things like the golf course, storm water system, landfill, sewage system, etc.
Good news was the primary thread running throughout the entire audit. However, the general fund piece was especially welcome. In a year when most routines, expectations, procedures, and workflows were upended with the response to COVID-19, the City of Superior's general budget number came in under budget by almost $1 million dollars - $826,000.