Auditors from Denman CPAs presented the Norwalk Fiscal Year 2025 audit and issued an unmodified opinion on the city’s financial statements, the highest level of assurance the firm provides.

Key takeaways: Robert Enders told council the city uses cash‑basis reporting (common for cities this size) and reported total cash receipts of about $47.5 million (a large increase driven by bond issuances), total cash expenditures of roughly $44 million, and an ending cash position near $42 million — much of which is reserved for capital projects. The general fund cash position equated to roughly 150 days of expenditures, a commonly cited healthy reserve level.

Other items: Auditors noted a significant FY2026 cash disbursement related to Norwalk’s Central Iowa Water Works share (about $5.8 million) to be funded by bond proceeds. Denman reported no internal control deficiencies but did record a minor compliance finding: invoices from a vendor (Sportsman’s Solutions, a sponsorship contract) lacked sufficient supporting documentation to substantiate cost reimbursement claims. Auditors provided a management letter recommending improved invoice support.

Council response: Council thanked staff for timely preparation and asked staff to tighten invoice documentation and be cautious during the upcoming budget cycle while state policy uncertainty around property tax levy changes remains in play.

Ending: Council approved the FY2025 audit report by resolution. Auditors and staff said they would follow up on the vendor documentation recommendation.

Quote: "We are issuing what we call clean or unmodified opinions on those financial statements," the auditor said.