The Tuttle City Council unanimously accepted the city's fiscal year 2024 financial audit during its regular meeting.

Andy Cromer, a partner at CPA firm HSPG, presented the audit and said Tuttle's general fund reserves equate to about four to five months of operating coverage, which he described as "healthy." He told council members that while the utility authority is producing operating margin in the low-20% range, it is not yet generating surplus cash large enough to transfer to the general fund.

Cromer pointed out three items the audit team included as comments. First, a federal-reporting requirement triggered because the city spent more than $750,000 in federal funds in 2024 (largely ARPA), leaving approximately $400,000 still unspent with a December 2026 deadline for use. Second, the professional report raised credit-card policy inconsistencies where some purchases did not follow written procedures. Third, the auditors identified a bank-reconciliation variance — about $60,000 at year-end — that Cromer said "should be zero" and recommended the city and outside accounting help resolve the discrepancy.

"If you think about it like a personal emergency fund, you're in the four- to five-month range, so you're really healthy there," Cromer said.

Council members asked whether the $60,000 difference was understood; city staff said they believe software timing and month-end posting delays explain it and that they expect to reconcile the amount. The council moved and voted to accept the FY2024 audit as presented; the acceptance will be filed with the state auditor as required.

The acceptance does not change follow-up obligations the auditors recommended: tighten policies on card purchases, complete regular bank reconciliations, and track federal-grant compliance. The report and two supplemental letters — one required by state authorities and an additional professional letter with recommendations — will be distributed to council and posted with the audit documents.