StoryReceipt of Annual Comprehensive Financial Report (Fiscal Year 2025)June 24, 2026

Richfield Maintains Robust Financial Health, Audit Confirms Strong Fiscal Standing for FY2025

The Richfield City Council unanimously accepted the Annual Comprehensive Financial Report, highlighting an 'unmodified opinion' and tight budget management despite staffing challenges.

Published Jul 2, 2026

The Richfield City Council unanimously voted to accept the Annual Comprehensive Financial Report (ACFR) for Fiscal Year 2025 during its meeting on June 23, 2026, affirming the city's strong financial health. The report, presented by Finance Director Mary Bogie and lead auditor Carolyn Stutsman, received a clean audit opinion, providing assurance of the city's fiscal responsibility and transparent financial practices.

The opinion we're providing is an unmodified opinion, meaning we do believe the financial statements are fairly stated in all material respects as of December 31st, 2025.
— Carolyn Stutsman, Partner, Audit Firm

Ms. Stutsman's statement underscored that the audit found no material misstatements in the city's financial records, reflecting a high degree of accuracy and adherence to accounting standards. The report detailed that Richfield successfully maintained its fund balance above policy levels and demonstrated meticulous management of expenditures, staying within close proximity to its budgeted figures for the fiscal year.

When you're looking at the size of budget that you're dealing with to be less than half a percentage off, I'd say that's about as close as you can get. So great job there.
— Carolyn Stutsman, Partner, Audit Firm

Despite facing staffing challenges throughout the year, the Finance Department was lauded for its diligence in compiling the comprehensive report. Councilmember Berg addressed this point during the discussion, emphasizing the importance of public confidence in the report's findings given internal operational hurdles.

Other Topics from This Document

Call to Order and Pledge of Allegiance
Gene and Mary Jacobson Award Ceremony
Approval of Agenda
Approval of City Council Meeting Minutes (June 9th & June 16th, 2026)
Open Forum for Public Comments
Approval of Consent Calendar
Proposed Ordinance: Alcohol in City Parks (First Reading)
Resolution: Amended 2026 General Pay Plan (City Manager compensation)
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Areas of Interest (7)

Richfield's Financial Health: City maintains strong fiscal standing with fund balance exceeding policy and expenditures tightly managed in 2025.

New Alcohol Policy in Richfield Parks: City Council moves to expand alcohol consumption in more city parks and facilities, sparking debate over event costs.

Public Trust in Richfield Government: Resident voices concerns over 'anger and mistrust towards government' and calls for increased city leader outreach and communication.

City Manager Salary Under Review: Richfield City Council begins process to amend the 2026 general pay plan, scrutinizing the City Manager's compensation against market rates.

Citizen of the Year Award Highlights Community Resilience: Maria Day recognized for fostering human relations, with the Commission noting 'horrendous events' and 'remarkable work' in the community.

Audit Reveals Municipal Liquor Store Decline: Richfield's liquor fund experiences decreased sales, reflecting a broader trend observed across the state in 2025.

Richfield Infrastructure Projects Seek Funding: City backs six regional solicitation projects, including active transportation and federal road aid, aimed at significant community improvements.

Votes (5)

To approve the agenda.

ApprovedUnanimous 'I'

Moved by Unnamed Council Member · Seconded by Unnamed Council Member

To approve the City Council regular meeting minutes from June 9th, 2026 and the City Council special meeting minutes from June 16th, 2026.

ApprovedUnanimous 'I'

Moved by Unnamed Council Member · Seconded by Unnamed Council Member

To accept the annual comprehensive financial report for the year ended December 31st, 2025.

AcceptedUnanimous 'I'

Moved by Unnamed Council Member (likely Mayor) · Seconded by Unnamed Council Member

To approve the consent calendar (Items A-H).

ApprovedUnanimous 'I'

Notable Quotes (13)

Despite the horrendous events that our community witnessed this winter, the silver lining is that it allowed us to see the remarkable work that our neighbors do every day for those living in the community, regardless of what you look like, where you come from, what language you speak.
— Valerie Hurst Baker

Community resilience, Human Rights AwardExplaining the challenge in selecting the award winner due to many nominees and the community's response to recent events.

My mom and dad lived out, bought a home here on Wentworth after the war and lived out their lives in Richfield. And in that process, they gave a a lot of contribution to the community. And so many of the things that we have that we take for granted, like paved streets and and schools and hockey rink and pool and all that were a byproduct of the council and mayor in that time pulling those those amenities for us together.
— Kim Jacobson

Richfield history, community developmentPresenting the Jacobson Award and reflecting on his parents' legacy in Richfield.

This award does not belong to me, it belongs to the spirit of Richfield and the remarkable organizations that show up every single day to ensure our neighbors are loved, safe, and supported.
— Maria Day

Community collaboration, citizen award

People (10)

Valerie Hurst BakerChair, Richfield Human Rights Commission

As Chair of the Richfield Human Rights Commission, she played a key role in the annual award ceremony.

1 quote

“Despite the horrendous events that our community witnessed this winter, the silver lining is that it allowed us to see the remarkable work that our neighbors do every day for those living in the community, regardless of what you look like, where you come from, what language you speak.”

Explaining the challenge in selecting the award winner due to many nominees and the community's response to recent events.

Kim JacobsonSon of Gene and Mary Jacobson

Representing the Jacobson family during the annual award ceremony, he spoke about his parents' legacy.

1 quote

“My mom and dad lived out, bought a home here on Wentworth after the war and lived out their lives in Richfield. And in that process, they gave a a lot of contribution to the community. And so many of the things that we have that we take for granted, like paved streets and and schools and hockey rink and pool and all that were a byproduct of the council and mayor in that time pulling those those amenities for us together.”

Presenting the Jacobson Award and reflecting on his parents' legacy in Richfield.

Places Mentioned

Richfield (City)Wentworth (Street/Area in Richfield)South Minneapolis (City)Wood Lake Nature CenterCommunity Center (Richfield)Richfield Ice Arena (Rink One)Veterans Memorial Park6601 Lindale Avenue South (Wood Lake Center)6715 Lakeshore Drive (Fred Babcock VFW #5555)Wet Park (mentioned as 'Environmental Friends of Wet Park's Facebook page')

Events & Meetings (9)

Richfield City Council Meeting, June 23rd, 2026 at 7:00 p.m.

City Council Regular Meeting, June 9th, 2026

City Council Special Meeting, June 16th, 2026

Cones with Cops event

Kickoff for Summer at City Hall event

Farmers Market (Richfield)

Richfield Foundation's wine tasting event, Thursday, October 8th, 2026

Fred Babcock Days event, August 1st, 2026

Second reading of alcohol in parks ordinance, July 14th, 2026

Ordinances & Resolutions (4)

Subsection 840.11 of the Richfield City Code

Amending rules on alcohol in city parks to allow it in Wood Lake Nature Center, Community Center, Richfield Ice Arena, and city-sponsored events with permits, and for community celebration license holders in designated areas.

Resolution (Consent Calendar Item B)

Support for project submittals for the 2026 Metropolitan Council Regional Solicitation, including 4 active transportation and 2 federal road projects.

Resolution (Consent Calendar Item G)

Authorizing the city to affirm the monetary limits on statutory municipal tort liability.

Resolution (Agenda Item 12A)

Related to the amended 2026 general pay plan, specifically reviewing and potentially adjusting the City Manager's base salary based on market shifts.

THE RICHFIELD RECORDER

Richfield Maintains Robust Financial Health, Audit Confirms Strong Fiscal Standing for FY2025

Other Topics from This Document

Call to Order and Pledge of Allegiance

Gene and Mary Jacobson Award Ceremony

Approval of Agenda

Approval of City Council Meeting Minutes (June 9th & June 16th, 2026)

Open Forum for Public Comments

Approval of Consent Calendar

Proposed Ordinance: Alcohol in City Parks (First Reading)

Resolution: Amended 2026 General Pay Plan (City Manager compensation)

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Go deeper on this topic

Areas of Interest (7)

Votes (5)

Notable Quotes (13)

People (10)

Places Mentioned

Events & Meetings (9)

Ordinances & Resolutions (4)

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