NEWS RELEASE

NEWS RELEASE FOR RELEASE March 2026 Roof, Gerdes, Erlbacher, PLC, Certified Public Accountants, Des Moines, Iowa today released an audit report on the City of Adel, Iowa. FINANCIAL HIGHLIGHTS: The City's receipts totaled $15,502,073 for the year ended June 30, 2025, a 10.3% increase. Disbursements for the year ended June 30, 2025 totaled $13,294,427, a 12.3% increase. AUDIT FINDINGS: Roof, Gerdes, Erlbacher, PLC reported two findings related to the receipt and disbursement of taxpayer funds. They are found on pages 46 through 51 of this report. The findings address issues such as a lack of segregation of duties and tax increment financing concerns. Roof, Gerdes, Erlbacher, PLC provided the City with recommendations to address each of the findings. Two of the two findings discussed above are repeated from the prior year. The City Council has a fiduciary responsibility to provide oversight of the City's operations and financial transactions. Oversight is typically defined as the "watchful and responsible care" a governing body exercises in its fiduciary capacity A copy of the audit report is available for review on the Auditor of State's web site at Audit Reports – Auditor of State. April 30 2026 LIOW0504404