Drescher and Malecki Partner Carl Widmer presents results of the 2024 audit to Jamestown City Council (December 15, 2025)
The 2024 audit for the City of Jamestown found that expenditures exceeded revenues for the past two years.
Drescher and Malecki Partner Carl Widmer presented the results of the audit to Jamestown City Council Monday night.
Widmer said the city’s revenues for 2024 saw a $4.4 million decrease. He said the city’s total fund balance was $7.365 million with the unassigned balance at $4.99 million.
Widmer said the unassigned balance currently represents 10.8% of the year’s spending and is below the 16.7% the Government Finance Officer’s Association (GFOA) recommends in terms of a municipality’s general fund having at least two months of spending in their unassigned balance.
Due to the city spending more than $750,000 in federal funds in a fiscal year, Widmer said a single audit is required in addition to the regular audit. He said this is due to the spending of American Rescue Plan funds. The City spent nearly $5 million in ARPA funds in 2024.
Widmer said the recommendations include having additional staff be involved in checks and balances where finances are concerned.
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