Webster City was pleased to hear words of praise from auditor Jeff Peters of the Williams and Company upon completion of the City’s audit.
His quote regarding the general fund is as follows. “The state would like to see a 10 percent reserve. You folks are in a 40 percent reserve range. That’s a pretty good spot. Not everybody is there.”
Mr. Peters further stated the city has 170 days of cash reserves, which is also a good place to be. The water and sewer funds have some revenue that can be used for replacement of infrastructure.
The City council gives credit to the City Manager, Ed Sadler and staff for their diligent work in constantly keeping on top the revenue and expenditures and for pursuing a 5 year plan for the city. The council is now setting a budget for 2013-14. To hear this report is encouraging.