Norma J. Schlesselman from Wilson, Toellner and Associates said the city's financial statements "present fairly," and that is "the best opinion that can be given in an audit."
Schlesselman said city revenues for 2008 were about $26,000 greater than the previous year, and expenses were about $120,000 greater.
She recommended the city look for ways to cut back on clean-up expenses.
Council members heard from another guest at their meeting: state Sen. Bill Stouffer, R-Napton.
The senator spoke about construction of the new bridge over the Missouri River at Glasgow.
"I know it's been a problem for folks," he said. But, "When we get through, I really think you're going to be pleased."
When asked about the Fair Tax proposal debated in Congress this past session, Stouffer said he was interested in the concept.
"Theoretically it makes a lot of sense," he said. "I think it's something for us to look at."
In other business, council members approved three equipment purchases.
Assistant City Administrator Gene Griffith searched the Internet and found a deal on playground equipment for the city. The seven pieces, which are valued at more than $7,000, have been purchased for $414 plus $179 for shipping.
Griffith also plans to bid on 21 transformers and 12 fire hydrants for the city.
In his report, Mayor Stephen Allegri discussed upcoming events in Slater.
The city's fall festival will be held Sept. 24-26. There will be two parades, a Mr. and Mrs. Slater contest for kids and a car show, which was originally scheduled for Steve McQueen Days.
"That will really add a lot to the festival," Allegri said.
The city will also host a ribbon cutting Saturday, Oct. 3, to dedicate the new walking trail.
Council members Ron Monnig, Harry Lightfoot, Brett Heymeyer and Terry Jordan were present at the meeting. The Slater council will meet again Tuesday, Sept. 15, at 7 p.m.