Richmond officials learned this week the city’s overall financial position rose by more than $1.28 million over the past year as auditors confirmed strong revenues, rising reserves and declining long-term debt during the council’s formal review of the fiscal year 2024 audit. The audit, presented by Westbrook and Company partner Mandy Kulin, showed Richmond’s total net position increased from $25.03 million to $26.31 million. Governmental activities improved by $723,228 while the city’s utility funds posted a combined positive increase of $560,648. “The financial statements were presented fairly, so it’s an unmodified opinion for the year ended Sept. 30, 2024,” said Kulin. Kulin told the council the city’s total assets stood at approximately $44 million, split evenly between governmental and business-type activities such as water, wastewater and solid waste. Total liabilities were reported at about $18.1 million, primarily from bonded debt, borrowings and lease certificates. …