Mayor Nels Anderson appointed Regina Daniels as the vice mayor of Soldotna at Wednesday’s city council meeting.

City Code requires that each year the mayor, by resolution, appoint any city council member to the office of vice mayor. It will be Daniels’ second term as Vice Mayor.

Immediately following Daniels’ appointment, Michelle Drew, a partner with professional services firm BDO United States LLP, gave the council presentation of this year’s city audit.

Drew said all the information she received from the city was clean and correct.

Drew told the council members they can place a very high level of reliance in the information coming out of the city’s accounting and finance department.

“The city owns $112 million in assets,” Drew said. “The majority of those assets are in the form of capital and infrastructure, and represent about 72 percent of that balance.”

The remaining $26 million dollars being in cash and investments is a good place to be at, Drew said. The city’s total equity for the year is $27 million, she said.

In the General Fund, determined by the 2014 fiscal year, the city came in $136,000 under budget, but that figure is higher than it was in 2013, Drew said.

“You are in excellent hands with your current finance and accounting,” Drew said.

Reach Kelly Sullivan at kelly.sullivan@peninsulaclarion.com