Cold Spring Releases Findings From 2025 Audit Report

(KNSI) – The city of Cold Spring is releasing its findings from its 2025 audit report. The city’s audit is conducted annually and measures how it spends taxpayer dollars across several areas, including general, stormwater and sewer funds.

For 2025, General Fund revenues and expenditures increased by $16,170 and $451,092 from the previous year, respectively. The largest expenditure increase came from the city’s Public Works Department, which rose due to project costs for the Main Street improvement project being funded from the previous year’s General Fund revenues.

The city’s water fund saw increases and decreases in operating revenues and expenses, respectively. Revenues rose by $104,912 due to higher rates, while expenses fell by $46,846, driven by lower maintenance and engineering costs throughout the year. The fund’s total net position rose by $4,247,303 since 2021, driven by a net increase in capital assets.

Operating revenues from the city’s sewer fund decreased by $567,903, while operating expenses increased by $118,013; the latter was due to an increase in wages and benefits allocated to the fund from the previous year. The fund’s net position fluctuated significantly since 2021, ultimately rising by $11,236,579 by the end of last year.

The sewer fund’s net position was significantly higher between 2022 and 2023 due to activity for the city’s newly constructed pre-treatment plant. In 2024, this activity was separated and recorded in a newly created Pre-Treatment Fund, resulting in a large net position decrease for the year. Unrestricted net position rose by $4,992,070 between 2021 and 2025. The city’s audit report said these balances reflected the fund’s ability to cover operating expenses and replacement costs for infrastructure and equipment.

The city’s Pre-Treatment Fund saw operating revenues increase by $278,322, driven by additional charges added in the previous year to improve net position. Operating expenses increased by $611,060 due to the first full year of depreciation taken on the pre-treatment plant in 2025.

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