Special Meeting Update-Financial Reporting
The Board of Aldermen held a special meeting April 14th to discuss how the City will move forward with financial reporting following the decision not to renew its prior agreement with Kerber, Eck & Braeckel (KEB).
During the meeting, KEB presented a proposed framework outlining how financial responsibilities could be structured moving forward. The presentation focused on a “division of financial duties” between the Mayor and Board, the City Clerk, and an external accountant.
Under the proposed structure:
Mayor and Board of Aldermen would continue to oversee high-level financial decisions, including approving the budget, contracts, and reviewing monthly financial statements.
- City Clerk would maintain responsibility for day-to-day administrative and financial tasks, such as tracking invoices and contracts, coordinating with vendors, and providing documentation (including invoices, bank statements, and payroll information) to the external accountant.
The External Accountant (KEB) would fullfill an active bookkeeping and reporting role:
- Maintaining the general ledger and chart of accounts
- Recording transactions and posting journal entries
- Reconciling bank accounts and payroll
- Preparing monthly financial statements and presenting them to the Board
- Supporting the annual audit process and tax filings
- Assisting with budget development and internal controls
KEB also discussed the potential transition from QuickBooks Desktop to QuickBooks Online, which allows for improved access to financial information and real-time visibility.
The presentation reflects a shift from the City’s prior arrangement—where financial reports were compiled from City-provided data but city leadership had limited access to reports.
The Board is expected to review a proposed new engagement agreement from KEB reflecting these services. A vote on whether to enter into a new agreement is anticipated at the upcoming Board of Aldermen meeting this Thursday (4/16/26).
As discussions continue, the focus remains on ensuring financial information is accurate, accessible, and useful for decision-making.
Updates will be shared following the Board’s vote.
