Dresser financial health improving, says auditor

Dresser’s long-term financial position seems to be improving, according to accountant Brock Geyen of CliftonLarsonAllen.

Geyen presented the results of the village’s audit, noting that the village is no longer running its water service in the red.

“The utilities are slowly paying back what they borrowed from the general fund,” he said.

The village’s assets total $1.3 million, according to Geyen. 

The reserved fund balance is $566,000. 

“That’s money you can’t spend,” Geyen explained. “That’s advance money from other funds. You have to wait until that comes back.”

To give a picture of the village’s financial health Geyen compares the reserved fund balance to the villages expenses for the year, $492,000.

“We come up with a ratio of 114 percent,” he said. “That’s a really good sign. It means you can cover your expenses as they come due. A large reason this has been able to increase is that these other funds are paying the general fund back. You protect against low points when these other funds have to borrow. In this case you’re in really good shape there.”

The water utilities fund, which has borrowed from other funds since 2011, is now generating enough to fund infrastructure improvements in the future.

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