During a special meeting held Tuesday, the City Council voted 5-0 to accept City of Bartlesville Annual Financial Statements and Independent Auditor’s Report for year ending June 30, 2024, as well as approved a resolution for the sale of bonds to fund projects approved by voters in the 2023 General Obligation Bond election.
Audit
The 2024 audit was delayed due to timing and staffing issues of the previous auditor to complete the audit in a timely manner and the necessity to contract with a new auditing service to complete audits for both the 2024-25 and 2025-26 fiscal years. The 2024-25 audit process recently concluded, CFO/City Clerk/Treasurer Jason Muninger said Tuesday.
“The City received an ‘unmodified opinion,’ which is a clean opinion stating our financials present fairly in all material respects,” Muninger said. “There are no proposed audit adjustments, no management comments, and no findings for the 2024 audit. We anticipate a report on the FY 2025-26 audit within the next three months.”
Bond sales
In a separate agenda item on Tuesday, the Council voted 5-0 to approve the 2026A bond issuance, the first in a series for the 2023 projects. It is anticipated funds will be received at the end of June.
“This is another demonstration of just how long it can take after voters approve funding for the money to actually become available,” said City Manager Mike Bailey. “Of course, this issuance was slowed somewhat because of the issues we had with the previous auditor, but the timeline from election day to project completion is always a lengthy process.”
Of the total $17.6 million bond issue, the first tranche, or series of bonds, will fund $10 million in projects and equipment. Projects and equipment scheduled for this tranche of funding include:
- New Fire Station No. 2
- Core server upgrade and UPS replacement
- Lupa asphalt mill/overlay – Sunset to Seminole, including Margarite, Adeline, Bucy, Rogers, Kaw, Seminole, Theodore, Cudahy, Morton, and Sunset
- Cherokee Avenue asphalt mill/overlay – Hensley to 14th Street
- Lahoma concrete rehabilitation – Spring to Palmetto
- Michigan reconstruction – Queenstown to Elmhurst
- Avondale asphalt mill/overlay – Tuxedo to Ohio, including portions of Michigan and Indiana
- Spruce asphalt mill/overlay – Tuxedo to Melody Lane, including portions of Fleetwood, Carole Court, Sunview Place, Barbara Avenue, and Kentucky Street
- Greystone concrete rehabilitation – Adams Boulevard to Rolling Meadows
- Valley & Denver asphalt mill/overlay – Shawnee to Hillcrest
- Georgetown asphalt mill/overlay – Silver Lake Road to Cambridge Court
- Adams Golf Course Greens Rebuild – Phase 2
- Pathfinder repaving
- Security lighting in parks
- Jo Allyn Lowe drainage improvements
- Panther Park equipment replacement
- Douglass Park playground shade structure